For the purpose of meeting expenditure: (1) relating to the Pensions Ombudsman and the making of grants to advisory bodies1; (2) of the Pensions Regulator, including the establishment of the Regulator2; (3) of the Lord Chancellor in meeting the costs of the legal assistance scheme for proceedings before a tribunal in relation to a decision of the Regulator3; or (4) relating to financial assistance provided by the Secretary of State to meet expenditure in connection with the Money and Pensions Service's pensions guidance function4, regulations5 may make provision for imposing levies in respect of prescribed6 occupational or prescribed personal
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This Practice Note covers the legal framework and regulatory guidance to be considered in determining whether an arrangement constitutes a contract of insurance and the possible consequences of carrying on activities relating to a contract of insurance without the requisite regulatory permissionsThe
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