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Pensions Act 2004

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This is the original version (as it was originally enacted).

101Powers to vary or revoke orders, notices or directions etc

This section has no associated Explanatory Notes

(1)The Regulator may vary or revoke—

(a)any determination by the Regulator whether to exercise a regulatory function, or

(b)any order, notice or direction made, issued or given by the Regulator in the exercise of a regulatory function.

(2)Subsection (1)(b) does not apply to—

(a)an order under section 3(3) of the Pensions Act 1995 (c. 26) revoking a prohibition order under that section,

(b)an order under section 4(5) of that Act revoking a suspension order under that section,

(c)a direction under section 2(3) of the Welfare Reform and Pensions Act 1999 (c. 30) refusing to register a scheme under section 2 of that Act or removing a scheme from the register of stakeholder pension schemes, or

(d)such other orders, notices or directions made, issued or given by the Regulator, in the exercise of a regulatory function, as may be prescribed.

(3)A variation or revocation of an order, a notice or a direction must be made by an order, a notice or a direction (as the case may be).

(4)A variation or revocation made under this section must take effect from a specified time which must not be a time earlier than the time when the variation or revocation is made.

(5)The power to vary or revoke under this section—

(a)is not to be treated for the purposes of subsection (1) as a regulatory function, and

(b)is in addition to any such power which is conferred on the Regulator by, or by virtue of, this or any other enactment.

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