Section 4 — Application for authorisation

(1) The trustees of a Master Trust scheme may apply to the Pensions Regulator for authorisation.

(2) The application must include the following—

(a) the scheme's latest accounts;

(b) the latest accounts of each scheme funder;

(c) the scheme's business plan (see section 9);

(d) the scheme's continuity strategy (see section 12).

(3) In considering an application, the Pensions Regulator may take into account any matters it considers appropriate, including—

(a) additional information provided by the applicant, and

(b) subsequent changes to the application or to any information provided by the applicant.

(4) The application must be made in the manner and form specified by the Pensions Regulator.

(5) The Secretary of State may make regulations setting out—

(a) other information to be included in an application, and

(b) the application fee payable to the Pensions Regulator.

(6) Regulations under this section are subject to negative resolution procedure.