Part 1: Collective Money Purchase Benefits Triggering events and continuity options Section 37: Continuity option 2: resolving triggering event
This section sets out continuity option 2. Where the trustees decide to pursue this option they must attempt to resolve the triggering event.
	The trustees are required to notify the Pensions Regulator (subsection (2)) when they consider the triggering event has been resolved. They must also set out how they consider that it has been resolved (subsection (3)). The Regulator is then required (subsection (4)) to notify the trustees of whether it is satisfied that the triggering event has been resolved.
	Under subsection (5), the Regulator must also be satisfied that any other event within the table at section 31 that has occurred in relation to the qualifying scheme since the occurrence of the triggering event has also been resolved.
	Subsection (6) provides that where a trustee fails to comply with a requirement imposed by this section, a financial penalty under Section 10 of the Pensions Act 1995 applies.