CHAPTER 48 / 55 · Paid
Governing body and long-term insurer administration.
Follow the two administration shops under section 27. Neither is FS-1.3.
Approx. 14 min with exercisesLaw cut-off: 20 September 2026Our approach
By the end of this chapter
- Describe the shop in one paragraph from the first file on the desk.
- Decide the promoter’s next asks: which stay on this letter, which need another paper.
- Keep neighbouring permissions off this desk.
- Cite the enabling section and treat the licence letter as the book.
How this family is grouped
Follow the two administration shops under section 27. Neither is FS-1.3. Each code below is its own shop: a first file, a week, the asks that need a different paper, then the letter. A quieter label is not a thinner file.
PPS-2.1 Governing body to administer Private Pension Scheme
FSC · PPS-2.1 · Authorisation
1. AdminCo’s shop
AdminCo is the desk this chapter is for. Authorisation of a governing body to administer a private pension scheme.
The first file on the desk is this. The trustees of Harbour Staff Pension Scheme want to administer the scheme themselves rather than hire AdminCo. PPS-2.1.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a authorisation under Private Pension Schemes Act 2012, Section 27. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not FS-1.3 commercial PSA, not PPS-2.2, and not the scheme licence.
Third, the assumptions stay in the file. Fictional board. Cut-off 20 September 2026.
Private Pension Schemes Act 2012, Section 27. See the register note · Open the published text ↗.
2. A week with A board that self-administers
Monday. The promoter walks in with “A board that self-administers.” Write the facts before anyone names a code: The trustees of Harbour Staff Pension Scheme want to administer the scheme themselves rather than hire AdminCo.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Authorisation of a governing body to administer a private pension scheme.
Wednesday. They record what this permission is used for. PPS-2.1.
Thursday. They write what the letter does not cover. Not FS-1.3.
Friday. They lock the assumptions. Fictional board. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what PPS-2.1 is used for. The Act matters when AdminCo applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
A board that self-administers
The trustees of Harbour Staff Pension Scheme want to administer the scheme themselves rather than hire AdminCo.
Why it fits. PPS-2.1.
Different paper
The same promoter asks for FS-1.3 commercial PSA
The slide says the PPS-2.1 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not FS-1.3.
Different paper
The same promoter asks for PPS-2.2
The slide says the PPS-2.1 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not FS-1.3.
| The promoter asks AdminCo to… | This licence? | Why |
|---|---|---|
| A board that self-administers | Yes | PPS-2.1. |
| The same promoter asks for FS-1.3 commercial PSA | No | Keep the neighbouring paper off this desk. Not FS-1.3. |
| The same promoter asks for PPS-2.2 | No | Keep the neighbouring paper off this desk. Not FS-1.3. |
4. Papers that sit beside this one
Not FS-1.3 commercial PSA, not PPS-2.2, and not the scheme licence. Name the other desk when the work changes: FS-1.3 commercial PSA; PPS-2.2; the scheme licence.
- FS-1.3 commercial PSA
- PPS-2.2
- the scheme licence
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
The governing body as section 27 contemplates. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing Rs 27,000 (USD 900). Status at cut-off: Published administration authorisation as at 1 July 2026.
Who may hold it. The governing body as section 27 contemplates.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Authority annex on the directory; criteria column is a dash.
Rules, codes and circulars. CL20260107 for the general review. The directory repeats this row under a second heading; the course keeps one dossier per code.
6. How to cite PPS-2.1
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | PPS-2.1 Governing body to administer Private Pension Scheme |
| Legal nature | Authorisation |
| Enabling law | Private Pension Schemes Act 2012 · Section 27 |
| Fees as at 1 July 2026 | Processing Rs 27,000 (USD 900). No variable member fee is printed on this administration row. |
| Status at cut-off | Published administration authorisation as at 1 July 2026. Deduplicated by code in the inventory. |
The structured library card keeps the same coordinates for search. Open PPS-2.1 in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register notePrivate Pension Schemes Act 2012 ↗Register note
PPS-2.2 Long-term insurer to administer Private Pension Scheme
FSC · PPS-2.2 · Authorisation
1. LifeIsle Ltd’s shop
LifeIsle Ltd is the desk this chapter is for. Authorisation of a long-term insurer to administer a private pension scheme.
The first file on the desk is this. LifeIsle Ltd will administer several occupational schemes for 18,000 beneficiaries in addition to writing life policies. PPS-2.2 plus INS-1.1. The 15,001–20,000 band applies.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a authorisation under Private Pension Schemes Act 2012, Section 27. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not INS-1.1 by itself, not FS-1.3, and not PPS-2.1.
Third, the assumptions stay in the file. Fictional counts. Cut-off 20 September 2026.
Private Pension Schemes Act 2012, Section 27. See the register note · Open the published text ↗.
2. A week with A life office administering schemes
Monday. The promoter walks in with “A life office administering schemes.” Write the facts before anyone names a code: LifeIsle Ltd will administer several occupational schemes for 18,000 beneficiaries in addition to writing life policies.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Authorisation of a long-term insurer to administer a private pension scheme.
Wednesday. They record what this permission is used for. PPS-2.2 plus INS-1.1. The 15,001–20,000 band applies.
Thursday. They write what the letter does not cover. INS-1.1 alone is not this authorisation. Not FS-1.3.
Friday. They lock the assumptions. Fictional counts. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what PPS-2.2 is used for. The Act matters when LifeIsle Ltd applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
A life office administering schemes
LifeIsle Ltd will administer several occupational schemes for 18,000 beneficiaries in addition to writing life policies.
Why it fits. PPS-2.2 plus INS-1.1. The 15,001–20,000 band applies.
Different paper
The same promoter asks for INS-1.1 by itself
The slide says the PPS-2.2 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. INS-1.1 alone is not this authorisation. Not FS-1.3.
Different paper
The same promoter asks for FS-1.3
The slide says the PPS-2.2 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. INS-1.1 alone is not this authorisation. Not FS-1.3.
| The promoter asks LifeIsle Ltd to… | This licence? | Why |
|---|---|---|
| A life office administering schemes | Yes | PPS-2.2 plus INS-1.1. The 15,001–20,000 band applies. |
| The same promoter asks for INS-1.1 by itself | No | Keep the neighbouring paper off this desk. INS-1.1 alone is not this authorisation. Not FS-1.3. |
| The same promoter asks for FS-1.3 | No | Keep the neighbouring paper off this desk. INS-1.1 alone is not this authorisation. Not FS-1.3. |
4. Papers that sit beside this one
Not INS-1.1 by itself, not FS-1.3, and not PPS-2.1. Name the other desk when the work changes: INS-1.1 by itself; FS-1.3; PPS-2.1.
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
A long-term insurer that also holds this administration authorisation. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing Rs 30,000 (USD 900). Status at cut-off: Published administration authorisation as at 1 July 2026.
Who may hold it. A long-term insurer that also holds this administration authorisation.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.
Rules, codes and circulars. CL20260107 for the general review. The insurer still needs its Insurance Act licence.
6. How to cite PPS-2.2
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | PPS-2.2 Long-term insurer to administer Private Pension Scheme |
| Legal nature | Authorisation |
| Enabling law | Private Pension Schemes Act 2012 · Section 27 |
| Fees as at 1 July 2026 | Processing Rs 30,000 (USD 900). Variable: 10,001–15,000 beneficiaries Rs 10,000 (USD 350); 15,001–20,000 Rs 15,000 (USD 500); more than 20,000 Rs 20,000 (USD 700). |
| Status at cut-off | Published administration authorisation as at 1 July 2026. Deduplicated by code. |
The structured library card keeps the same coordinates for search. Open PPS-2.2 in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register notePrivate Pension Schemes Act 2012 ↗Register noteInsurance Act 2005 ↗Register note
PAUSE & REFLECT
Check your understanding.
Three questions to make the ideas stick. Your score is saved on this browser; this is a learning exercise, not a qualification.
Follow the sources.
Each title opens the published text. The register note records the edition used for this course.
- FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗ All published category codes, fees, forms and licensing-criteria columns; consolidation as at 1 July 2026 · Register note
- Financial Services Act 2007 ↗ Sections 2, 14, 14A, 16–18, 25, 33, 71A, 72, 77, 77A, 77B, 77C, 78, 79A; Second Schedule Parts I–III; Fifth Schedule · Register note
- FSC licensing and fees amendment rules 2026 ↗ Rule 3 and replacement First Schedule; rule 4 commencement · Register note
- FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗ 1 July 2026 fee review; annual-fee due date 30 September 2026; FSCOne alternative arrangements · Register note
- FSC rules and regulations directory ↗ Consolidated licensing and fees rules; sector-specific rules including Securities (Licensing) Rules and Family Office Rules · Register note
- Private Pension Schemes Act 2012 ↗ Sections 9, 10, 12 and 27 · Register note
- Insurance Act 2005 ↗ Sections 7, 11, 70, 75, 78, 78A · Register note
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