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This guidance details the legislation and the factors taken into account in determining when a scheme administrator is a fit and proper person.
HMRC is committed to combating pension liberation activity. From 1 September 2014, if HMRC believes that a scheme administrator is not a fit and proper person to be the scheme administrator they can:
refuse to register a new pension scheme
de-register an existing registered pension scheme
HMRC assumes that all persons appointed as scheme administrators are fit and proper persons unless they hold or obtain information which calls that assumption into question.
When registering a new pension scheme you must now declare the fit and proper status of the scheme administrator.