SCHEDULES

SCHEDULE 4THE BOARD OF THE PENSION PROTECTION FUND

3

1

Where the Board makes arrangements under paragraph 2(1) for any of its functions to be exercised by a person on its behalf, those arrangements may also provide for that person to exercise on behalf of the Board any delegable review function.

2

Where the Regulator is required to or may exercise any function on behalf of the Board by virtue of—

a

Article 164(4) or 171(8) (administrative functions relating to levies),

b

Article 164(7)(b) or 171(10)(b) (recovery of levies), or

c

regulations under Article 164(8) or 171(11) (collection, recovery and waiver of levies),

the Board may also require the Regulator to exercise on behalf of the Board any delegable review function.

3

In this paragraph, “delegable review function”, in relation to a delegated function, means—

a

any function, by virtue of Article 189(1)(a) or (3)(a), to give a review decision in respect of any reviewable matter arising from the exercise of the delegated function;

b

in relation to any function exercisable by virtue of paragraph (a), any other function under regulations under Article 189(1) in connection with the giving of a review decision;

c

any function conferred by paragraph (2) of Article 101 (supplementary powers), so far as that paragraph relates to any function mentioned in paragraph (a) or (b).

4

In this paragraph—

  • “delegated function” means a function which is exercisable on behalf of the Board as mentioned in sub-paragraph (1) or (2);

  • “executive member” has the meaning given by section 108(7)(a) of the Pensions Act 2004 (c. 35);

  • “review decision” has the meaning given by Article 189(1).