Part 1: Collective Money Purchase Benefits Ongoing supervision Section 29: Risk notices
If the Pensions Regulator considers that there is an issue of concern in relation to a collective money purchase scheme which will, or is likely to lead to, a breach of the authorisation criteria if the issue is not resolved, this section provides that it may issue a risk notice requiring the trustees to submit a resolution plan to the Regulator setting out proposals for resolving the issue of concern (see subsections (1) and (2)).
	Under subsection (3), a risk notice must specify the issue of concern and the date by which the resolution plan is to be submitted. It must also contain any other information required by regulations made by the Secretary of State under subsection (10).
	The Regulator may give a further notice requiring the submission of a revised resolution plan if it is not satisfied with the original submitted resolution plan (subsection (4)).
	Subsections (5) and (7) provide that where a resolution plan (including any revised plan) is approved by the Regulator, the trustees must implement the plan as agreed, and submit reports to the Regulator on their progress (progress reports) in resolving the issue of concern. The time period within which the first report must be submitted is to be specified in regulations, whilst the timing for submission of subsequent reports is to be specified by the Regulator.
	The resolution plan and progress reports submitted by the trustees must be provided in the manner and form specified by the Regulator (subsection (8)).
	Where trustees fail to implement the proposals contained in a resolution plan that has been agreed by the Regulator, it may direct them to do so (subsection (6)).
	Subsection (11) makes provision for the imposition of a civil penalty under section 10 of the Pensions Act 1995 (civil penalties) in cases where a trustee fails to comply with a risk notice issued under subsection (1) or a further notice issued under subsection (4) or a requirement in respect of a progress report under subsection (7), or fails to comply with a direction to implement a resolution plan under subsection (6).