PART IIN.I.THE PENSIONS REGULATOR

Exercise of regulatory functionsN.I.

Duty to have regard to the interests of members etc.N.I.

95.—(1) The Regulator must have regard to the matters mentioned in paragraph (2)—

(a)when determining whether to exercise a regulatory function—

(i)in a case where the requirements of the standard or special procedure apply, or

(ii)on a review under Article 94, and

(b)when exercising the regulatory function in question.

(2) Those matters are—

(a)the interests of the generality of the members of the scheme to which the exercise of the function relates, and

(b)the interests of such persons as appear to the Regulator to be directly affected by the exercise.