Part 1: Master Trusts Chapter 4: On-going supervision of Master Trusts Section 16: Duty to notify Pensions Regulator of significant events
This section creates a requirement for specified persons to notify the Pensions Regulator of significant events as soon as is reasonably practicable. Subsection (3) sets out that the Secretary of State must make regulations setting out the significant events that are required to be reported.
	Subsection (2) sets out the people who are required to notify the Pensions Regulator of significant events and includes the majority of those who must be assessed under the fit and proper test (see Section 7) as well as those who provide legal, financial or actuarial advice to the scheme and the manager of the scheme’s administration services.
	Subsections (7) and (8) provide that the first regulations made under subsection (3) are subject to the affirmative resolution procedure and that any subsequent regulations under subsection (3) and any regulations under subsection (2) adding to the list of people who must notify of significant events, are subject to the negative resolution procedure.