The Pensions Regulator

Determinations

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Special procedure for immediate action

Sometimes the regulator may believe that it needs to exercise certain powers because there is an immediate risk to the interests of the members or the assets of a scheme. For example, where there is evidence that the trustees have been dishonest, the regulator may want to appoint a trustee with exclusive powers immediately to safeguard members' benefits or scheme assets.

In these circumstances the standard procedure of issuing a warning notice to the directly affected parties before the determination will not apply. This is to ensure that:

• action can be taken to protect members' interests without delay; and
• the possibility of 'tipping off' an offender that the regulator is considering action is avoided.

Only the determinations panel can exercise a power without issuing a warning notice. However, the law requires the determinations panel to review the decision as soon as possible after the determination.

Affected parties will be given an opportunity to comment on the determination prior to the review. The review panel will consider these comments, along with any relevant new information on the application, when it makes its decision.

At the review, the panel may decide to confirm the original determination, amend it, or substitute a different determination.

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