Captured statutory text (L5)
16 ... Voluntary connection
(1)Where trustees or managers—
(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)wish to connect a pension scheme to the Money and Pensions Service on a voluntary basis in circumstances where the scheme has fewer than 100 relevant members,
they must apply to the Money and Pensions Service for permission for the pension scheme to connect to the Money and Pensions Service ... on a voluntary basis.
(2)When applying for permission to connect under paragraph (1), trustees or managers must have regard to guidance on ... voluntary connection issued from time to time by the Money and Pensions Service.
(3)Subject to consultation with the Regulator, except where the Money and Pensions Service and the Regulator agree that such consultation is not needed, the Money and Pensions Service may grant permission for ... voluntary connection by such a date as the Money and Pensions Service considers appropriate (referred to in this regulation as the “agreed deadline”).
(4)Where permission is granted for ... voluntary connection under paragraph (3)—
(a)the agreed deadline remains fixed, ... unless—
(i)permission to defer connection is given under regulation 17, or
(ii)all the members of the scheme become pensioner members .
(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)Once permission to connect ... on a voluntary basis has been granted under paragraph (4), trustees or managers must—
(a)register the scheme with the Money and Pensions Service, having regard to the guidance referred to in regulation 15(2)(d);
(b)connect the pension scheme to the Money and Pensions Service by no later than the agreed deadline, in compliance with the standards referred to in regulation 15(2)(c) and having regard to the guidance referred to in regulation 15(2)(d);
(c)meet the requirements in regulation 15(4) and (5).
Full captured verbatim text
(1) Where trustees or managers— (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (b) wish to connect a pension scheme to the Money and Pensions Service on a voluntary basis in circumstances where the scheme has fewer than 100 relevant members, they must apply to the Money and Pensions Service for permission for the pension scheme to connect to the Money and Pensions Service ... on a voluntary basis. (2) When applying for permission to connect under paragraph (1), trustees or managers must have regard to guidance on ... voluntary connection issued from time to time by the Money and Pensions Service. (3) Subject to consultation with the Regulator, except where the Money and Pensions Service and the Regulator agree that such consultation is not needed, the Money and Pensions Service may grant permission for ... voluntary connection by such a date as the Money and Pensions Service considers appropriate (referred to in this regulation as the “agreed deadline”). (4) Where permission is granted for ... voluntary connection under paragraph (3)— (a) the agreed deadline remains fixed, ... unless— (i) permission to defer connection is given under regulation 17, or (ii) all the members of the scheme become pensioner members . (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5) Once permission to connect ... on a voluntary basis has been granted under paragraph (4), trustees or managers must— (a) register the scheme with the Money and Pensions Service, having regard to the guidance referred to in regulation 15(2)(d); (b) connect the pension scheme to the Money and Pensions Service by no later than the agreed deadline, in compliance with the standards referred to in regulation 15(2)(c) and having regard to the guidance referred to in regulation 15(2)(d); (c) meet the requirements in regulation 15(4) and (5).