A person may not operate a master trust scheme1 unless the scheme is authorised2. For these purposes, a person 'operates' a master trust scheme if the person:
(1) accepts money from members3 or employers4 (or prospective members or employers), in respect of fees, charges, contributions or otherwise, in relation to the scheme5; or
(2) enters into an agreement with an employer that relates to the provision of pension savings for employees or other workers6.
If the Pensions Regulator7
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