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<p>The Department is currently consulting on proposals to amend the scheme’s investment
regulations to allow the Secretary of State to make a proportionate intervention in
the investment function of an administering authority if it has not had regard to
best practice, guidance or regulations. The consultation was published on the basis
that the scheme is consistent with the way in which Directive 41/2003 on the Institutions
for Occupational Retirement Provision Directive was transposed into national law,
including the Occupational Pension Scheme (Investment) Regulations 2005. The consultation
closes on 19 February.</p><p><br></p>
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