Pensions Act 2004

Section 10

SCHEDULE 2E+W+SThe reserved regulatory functions

Part 1E+W+SFunctions under the Pension Schemes Act 1993 (c. 48)

1E+W+SThe power by direction under section 99(4) to grant an extension of the period within which the trustees or managers of a scheme are to carry out certain duties.

2E+W+SThe power by direction under section 101J(2) to extend the period for compliance with a transfer notice.

3E+W+SThe power under regulations made by virtue of section 168(4) to require a person to pay a penalty.

[F13AE+W+SA power under section 24H (compliance with conditions of conversion of guaranteed minimum pension).]

Part 2E+W+SFunctions under the Pensions Act 1995 (c. 26)

4E+W+SThe power to make an order under section 3(1) prohibiting a person from being a trustee.

5E+W+SThe power to make an order under section 3(3) revoking such an order.

[F25AE+W+SThe power under section 3A(3) to give a notice waiving a prohibition.]

6E+W+SThe power to make an order under section 4(1) suspending a trustee.

7E+W+SThe power to make an order under section 4(2) extending the period for which an order under section 4(1) of that Act has effect.

8E+W+SThe power to make an order under section 4(5) revoking an order under section 4(1) of that Act suspending a trustee.

9E+W+SThe power to make an order appointing a trustee under any of the following provisions of section 7—

(a)subsection (1) where a trustee is removed by an order under section 3 (prohibition orders) [F3or by section 3A];

(b)subsection (3)(a) [F4, (c) or (d)].

10E+W+SThe power under section 9 to exercise by order the same jurisdiction and powers as the High Court or the Court of Session for vesting property in, or transferring property to, trustees in consequence of the appointment or removal of a trustee.

11E+W+SThe power to require a person to pay a penalty under section 10 (including under regulations made by virtue of subsection (3) of that section).

12E+W+SThe power to make an order under section 11 directing or authorising an occupational pension scheme to be wound up.

13E+W+SThe power to give directions to trustees under section 15.

[F513AE+W+SThe duty under section 23(4), and regulations made thereunder, to compile and maintain a register of persons who satisfy prescribed conditions to act as independent trustees, but only in so far as that duty entails the removal of a person from that register if he does not satisfy, or no longer satisfies, any such prescribed condition.]

14E+W+SThe power under section 29(5) to give a notice waiving a disqualification under section 29 of that Act.

15E+W+SThe power under section 30(2) to exercise by order the same jurisdiction and powers as the High Court or the Court of Session for vesting property in, or transferring property to, the trustees where a trustee becomes disqualified under section 29 of that Act.

[F615A.E+W+SThe power under section 58(7) to extend or further extend the period referred to in section 58(6) of that Act in relation to a schedule of contributions for an occupational pension scheme.

15B.E+W+SThe power under section 60(7) to extend or further extend the period applicable under section 60(3) of that Act in relation to securing an increase in the value of the assets of an occupational pension scheme.]

16E+W+SThe power to make an order under section 67G(2) by virtue of which any modification of, or grant of rights under, an occupational pension scheme is void to any extent.

17E+W+SThe power to make an order under section 67H(2) prohibiting, or specifying steps to be taken in relation to, the exercise of a power to modify an occupational pension scheme.

18E+W+SThe power to make an order under section 69 authorising the modification of an occupational pension scheme or modifying the scheme.

19E+W+SThe power to make an order under section 71A modifying an occupational pension scheme with a view to ensuring that it is properly wound up.

Part 3E+W+SFunctions under the Welfare Reform and Pensions Act 1999 (c. 30)

20E+W+SThe power by direction under section 2(3)(b) to remove a scheme from the register of stakeholder pension schemes.

Part 4E+W+SFunctions under this Act

21E+W+SThe power to make or extend a restraining order under section 20.

22E+W+SThe power to make an order under section 20(10) permitting payments out of an account that is subject to a restraining order.

23E+W+SThe power to make a repatriation order under section 21.

24E+W+SThe power to make a freezing order under section 23.

25E+W+SThe power to make an order under section 25(3) extending the period for which a freezing order has effect.

26E+W+SThe power to make an order under section 26 validating action taken in contravention of a freezing order.

27E+W+SThe power to make an order under section 28 directing that specified steps are taken.

28E+W+SThe power to make an order under section 30 giving a direction where a freezing order ceases to have effect.

29E+W+SThe power to make an order under section 31(3) directing the notification of members.

30E+W+SThe power to issue a contribution notice under section 38.

[F730AE+W+SThe power to issue a direction under section 39A(6) to any person.]

31E+W+SThe power to issue a direction under section 41(4) to the trustees or managers of an occupational pension scheme.

32E+W+SThe power to issue a revised contribution notice under section 41(9).

33E+W+SThe power to issue a financial support direction under section 43.

[F833AE+W+SThe power to issue a direction under section 43A(3) to any person.]

34E+W+SThe power to issue a contribution notice under section 47.

35E+W+SThe power to issue a direction under section 50(4) to the trustees or managers of an occupational pension scheme.

36E+W+SThe power to issue a revised contribution notice under section 50(9).

37E+W+SThe power to make a restoration order under section 52.

38E+W+SThe power to issue a contribution notice under section 55.

39E+W+SThe power to issue a notice under section 71 requiring a report to be provided to the Regulator.

40E+W+SThe power to make a direction under section 76(8) extending the retention period for documents taken into possession under section 75.

41E+W+SThe power to make a direction under section 78(10) extending the retention period for documents taken into possession under that section.

[F941AE+W+SThe power to require a person to pay a penalty under section 88A.]

42E+W+SThe power to make an order under section 231 modifying a scheme, giving directions or imposing a schedule of contributions.

43E+W+SThe power to issue a ring-fencing notice under section 292.

44E+W+SThe power to vary or revoke under section 101—

(a)a determination made by the Determinations Panel whether to exercise one of the other functions listed in this Schedule, or

(b)an order, notice or direction made, issued or given in the exercise of one of those functions—

(i)by the Panel, or

(ii)by the Regulator in compliance with a direction of [F10a tribunal] under section 103.

[F11Part 4AE+W+SFunctions under the Pension Schemes Act 2017

44AE+W+SThe power to withdraw authorisation of a Master Trust scheme under section 19.

44BE+W+SThe power to give a direction under section 28(4) (direction to pursue continuity option).

44CE+W+SThe power to make a pause order under section 31.

44DE+W+SThe power to make an order under paragraph 2(2) of Schedule 1 extending the period for which a pause order has effect.

44EE+W+SThe power to make an order under paragraph 3 of that Schedule validating action taken in contravention of a pause order.

44FE+W+SThe power to make an order under paragraph 4(3) of that Schedule directing the notification of members or employers.

44GE+W+STerms used in this Part have the same meaning as in Part 1 of the Pension Schemes Act 2017.]

F12[F12PART 4BE+W+SFunctions under Part 1 of the Pension Schemes Act 2021

44HE+W+SThe power to give a direction under section 23(2) (direction to obtain actuarial valuation or take other steps to remedy or mitigate failure in relation to a collective money purchase scheme).

44IE+W+SThe power to give a direction under section 29(6) (direction to implement proposals in a resolution plan).

44JE+W+SThe power under section 30 to withdraw authorisation of a collective money purchase scheme.

44KE+W+SThe power to give a direction under section 41(4) (direction to pursue a continuity option).

44LE+W+SThe power to make a pause order under section 44.

44ME+W+SThe power to make an order under paragraph 2(2) of Schedule 2 extending the period for which a pause order has effect.

44NE+W+SThe power to make an order under paragraph 3 of Schedule 2 validating action taken in contravention of a pause order.

44OE+W+SThe power to make an order under paragraph 4(3) of Schedule 2 directing the notification of members or employers.]

[F13PART 5E+W+SOTHER FUNCTIONS

45E+W+SThe power to make an order under regulation 19 of the Occupational and Personal Pension Schemes (Consultation by Employers and Miscellaneous Amendment) Regulations 2006 (S.I. 2006/349) to waive or relax any of the requirements of regulations 6 to 16 of those Regulations.]