Pension Schemes Act 1993

183 Sub-delegation

(1) Without prejudice to any specific provisions in this Act, a power conferred by this Act to make an Order in Council, regulations or an order (other than regulations and orders made under sections 2 to 5, Chapter I of Part IV, Part VIII so far as it applies for the purposes of Chapter I of Part IV, sections 136 to 138, 139(2) and (3), 140, 141, 142(1) to (4), 143, 153(2), 158(1) to (5), 162, 163, 172, 173 and 176 or Schedule 1) includes power to provide for a person to exercise a discretion in dealing with any matter.

(2) Where any provision in Parts I to VI (except section 6), Chapter I or III of Part VII, Part VIII or IX or section 153 (except subsection (8)), 156, 162, 163, or 174 allows for specified matters to be dealt with by, or determined in accordance with, regulations made by the Secretary of State or by him and the Treasury acting jointly, any regulations made by virtue of that provision may provide—

(a) for those matters to be dealt with by the Board in their discretion or to be determined in accordance with the exercise by the Board of a discretion vested in them by the regulations, and

(b) for the Board’s discretion to be exercised either generally in regard to those matters or differently in regard to particular cases or classes of case.

(3) Regulations under section 27(3), 63(2), 97(1), 104(8) and 144(5) may provide that the values there mentioned shall be calculated and verified or, in the case of regulations under section 104(8), that the percentage there mentioned shall be determined—

(a) in such manner as may, in the particular case, be approved—

(i) by a prescribed person;

(ii) by a person with prescribed professional qualifications or experience; or

(iii) by a person approved by the Secretary of State; or

(b) in accordance with guidance prepared by a prescribed body;

and regulations under section 104(8) may also provide that such calculation and verification or, as the case may be, determination shall be—

(i) in accordance with prescribed principles and requirements; or

(ii) in accordance with principles determined by the person who performs the duties of calculation and verification.