133 Delegation of powers by the Regulator

133  Delegation of powers by the Regulator

(1)     The Pensions Act 2004 is amended as follows.

(2)     In paragraph 21 of Schedule 1 (regulations relating to delegation of the Pensions Regulator's functions), the existing provision becomes sub-paragraph (1).

(3)     For paragraph (e) of that sub-paragraph substitute—

“(e)     permitting the Regulator to authorise such persons, in such circumstances and under such arrangements, as the Regulator may determine, to exercise on behalf of the Regulator—

(i)     the power to determine whether to exercise any of the functions listed in sub-paragraph (2);

(ii)     the power to exercise any of

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