330. Authorisation criteria: financial sustainability requirement.

The following provisions apply for the purposes of enabling the Pensions Regulator1 to decide whether it is satisfied that a master trust scheme2 is financially sustainable3.

In order to be satisfied that a master trust scheme is financially sustainable, the Regulator must be satisfied that the business strategy relating to the scheme is sound, and that the scheme has sufficient financial resources to meet the following costs4:

  1.  

    (1)     the costs of setting up and running the scheme5; and

  2.  

    (2)     in the event of a triggering event6 occurring:

    1.  

      (a)     the costs of complying with the duties relating to continuity7; and

    2.  

      (b)