Part 1: Collective Money Purchase Benefits Triggering events and continuity options Section 39: Implementation strategy
This section requires the trustees of a qualifying scheme to submit an implementation strategy to the Pensions Regulator for approval. This is a document setting out how the interests of members of the qualifying scheme are to be protected following the occurrence of a triggering event, and how that event will be resolved.
	Under subsection (2), if a triggering event within item 1, 2 or 3 of the table in section 31(4) occurs within an existing triggering event period, the trustees need only submit an implementation strategy in relation to the most recent triggering event. Any implementation strategy which has already been approved for an earlier triggering event ceases to have effect when the later triggering event occurs.
	Under subsection (3)(a), in relation to items 1 and 2 triggering events, the implementation strategy is only required to be submitted if the decision to withdraw authorisation has become final. Under subsection (3)(b), where it becomes clear that authorisation is not to be withdrawn, the override in respect of the original triggering event and implementation plan provided under subsection (2) no longer applies.
	The Regulator may direct the trustees to comply with the requirements of this section (subsection (4)).
	Where a person fails to comply with a direction under subsection (4), a financial penalty under section 10 of the Pensions Act 1995 may apply (subsection (5)).
	Subsection (6) provides that this section overrides any provision of the scheme to the extent there is a conflict.