Commentary on Sections Exercise of regulatory functions Section 97: Special procedure: applicable cases
299.The special procedure outlined in section 98 (special procedure), as opposed to the standard procedure outlined in section 96 (standard procedure), applies in the three cases set out in subsections (2), (3) and (4). They each involve cases where the Regulator determines to exercise a regulatory function immediately on the basis that it is necessary to do so because there is or is likely to be an immediate risk to the interests of members under a scheme or the assets of a scheme.
300.Subsection (5) lists the regulatory functions to which the special procedure may apply.