The Pensions Regulator

Clearance

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Clearance statements requested

139. In addition to clearance statements that confirm that in the opinion of the regulator it would not be reasonable to impose the requirements of a financial support direction or a contribution notice in relation to the scheme, the applicants, and the circumstances described in the application, the regulator has a power to grant a clearance statement in relation to contribution notices which states that, in its opinion and in the circumstances described in the application, the applicant would not be a party to an act or a deliberate failure to act. This would require significantly more evidence and, therefore, extensive due diligence, which would take much more time. It would, therefore, be more appropriate and proportionate for the applicant and also for the regulator to consider granting a clearance statement based upon reasonableness.

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