Moved by
Lord Hutton of Furness
10: After Clause 28, insert the following new Clause—
“Duty to notify the Pensions Regulator: fit and proper persons requirement
(1) The trustees of an authorised collective money purchase scheme must notify the Pensions Regulator within two weeks of a person assuming a role listed in paragraphs (b) to (e) of section 11(2).
(2) The Pensions Regulator must—
(a) assess whether the person in respect of whom notice is given under subsection (1) is a fit and proper person to act in the relevant capacity, and
(b) if it is not satisfied that the person is a fit and proper person to act in that capacity, consider whether to withdraw the scheme’s authorisation in accordance with section 30.”