New Schedule 2 - Pensions Guidance

Part of Pension Schemes Bill – in a Public Bill Committee at 3:45 pm on 4th November 2014.

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333E Designation of providers of pensions guidance

(1) In this Part “designated guidance provider” means—

(a) the Pensions Advisory Service Limited,

(b) the National Association of Citizens Advice Bureaux,

(c) the Scottish Association of Citizens Advice Bureaux,

(d) the Northern Ireland Association of Citizens Advice Bureaux, or

(e) a person designated by the Treasury as someone who must, in giving pensions guidance, comply with standards set by the FCA under section 333G.

(2) Before designating a person under subsection (1)(e), the Treasury must—

(a) consult the FCA,

(b) notify the person to be designated, and

(c) consider any representations made.

(3) The Treasury may revoke a designation under subsection (1)(e).

(4) The Treasury must give notice in writing of a designation under subsection (1)(e) or the revocation of a designation under subsection (3) to the person designated or (as the case may be) the person whose designation has been revoked.

(5) T he Treasury must send a copy of a notice given under subsection (4) to—

(a) all other designated guidance providers, and

(b) the FCA.

(6) The Treasury must from time to time publish, in such manner as they consider appropriate, a list of the persons who are designated under subsection (1)(e).