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Pensions Bill

I shall explain. It is the potential shift, as enacted by the proposed regulations, to the test of whether something has a detrimental effect. That does not exist at the moment; it is a new test which is likely to be introduced and it is that which has widened significantly the range of situations that those professionals would be worried about being sucked into. For example, they may well say that the right thing to do is to get rid of failing business X in order to keep business Y within a group, or a company, going. In doing so, assets leave the group and, it could be construed with the benefit of hindsight—we will come on to that later—that that has had a detrimental effect on the interests of members. Therefore there would be some way in which those people would be drawn into what the regulator could throw at them.