PART 2RESTRICTIONS ON CHARGES
Restrictions on charges4
1
Subject to regulations 9 and 10, the trustees or managers of a relevant scheme must not impose or permit to be imposed on a member of that scheme to whom this Part applies charges which—
a
exceed the limits specified in this Part; or
b
are of a description prohibited by this Part.
2
With the exception of regulation 11, this Part applies—
a
to a member of a relevant scheme to the extent of the value of that member's rights under a default arrangement; and
b
beginning with the date on which the first contribution to the default arrangement referred to in sub-paragraph (a) is received by the trustees or managers on or after the date on which this regulation comes into force.