The Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations 2025
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Change 1
As published
31 Fit and proper persons requirement
(1) Schedule 1 sets out the matters that the Pensions Regulator must take into account in assessing, for the purposes of section 11 of the Act (fit and proper persons requirement), whether a person is fit and proper to act in a capacity mentioned in section 11(2) of the Act.
(2) Where a person in a capacity mentioned in paragraphs (a) to (d) of section 11(2) is a body corporate or partnership, the Pensions Regulator must assess whether each individual performing the functions of that person in relation to the scheme, in the exercise of a management or executive role, is a fit and proper person to act in relation to the scheme in that capacity.
(3) Where a person exercises a core function in relation to an unconnected multiple employer scheme, the Pensions Regulator may assess whether that person is a fit and proper person to act in such a capacity and if so must take into account the matters set out in Schedule 1.
(4) In this regulation, “core function” includes a strategic, executive or management role carried out in respect of, or on behalf of, a person mentioned in paragraphs (a) to (d) of section 11(2) of the Act.
Your change, as a redline
31 Fit and proper persons requirement
(1) Schedule 1 sets out the matters that the Pensions Regulator must take into account in assessing, for the purposes of section 11 of the Act (fit and proper persons requirement), whether a person is fit and proper to act in a capacity mentioned in section 11(2) of the Act.
(2) Where a person in a capacity mentioned in paragraphs (a) to (d) of section 11(2) is a body corporate or partnership, the Pensions Regulator must assess whether each individual performing the functions of that person in relation to the scheme, in the exercise of a management or executive role, is a fit and proper person to act in relation to the scheme in that capacity.
(3) Where a person exercises a core function in relation to an unconnected multiple employer scheme, the Pensions Regulator may assess whether that person is a fit and proper person to act in such a capacity and if so must take into account the matters set out in Schedule 1.
(4) In this regulation, “core function” includes a strategic, executive or management role carried out in respect of, or on behalf of, a person mentioned in paragraphs (a) to (d) of section 11(2) of the Act.
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