486. Functions exercisable by the Determinations Panel.

The Determinations Panel1 is to exercise on behalf of the Pensions Regulator2: (1) the power to determine in specified circumstances3 whether to exercise a reserved regulatory function4; and (2) where it so determines to exercise a reserved regulatory function, the power to exercise the function in question5. Those circumstances are: (a) where the Regulator considers that the exercise of the reserved regulatory function may be appropriate; or (b) where an application is made under, or by virtue of, any of specified listed provisions