F1 PART V GOVERNANCE OF RELEVANT SCHEMES
Annotations:
Amendments (Textual)
CHAPTER 1GENERAL
F2Requirements for processing financial transactions24
1
The trustees or managers of a relevant scheme must secure that core financial transactions are processed promptly and accurately.
2
A “core financial transaction” includes (but is not limited to)—
a
investment of contributions to the scheme;
b
transfers of assets relating to members into and out of the scheme;
c
transfers of assets relating to members between different investments within the scheme;
d
payments from the scheme to, or in respect of, members.
3
In relation to a scheme which is not a money purchase scheme, this regulation applies only in relation to the provision of money purchase benefits.
Pt. V inserted (6.4.2015) by The Occupational Pension Schemes (Charges and Governance) Regulations 2015 (S.I. 2015/879), regs. 1(2), 16(1)(b)