S.L. 514.9 Art. 4General principles of prudential supervision.

(1) The competent authority shall be responsible for the prudential supervision of a retirement scheme.

(2) The competent authority shall conduct its supervision on a retirement scheme on a forward-looking and risk-based approach.

(3) Supervision by the competent authority of a retirement scheme shall be carried out in a timely and proportionate manner and shall comprise an appropriate combination of off-site and on-site supervision.

(4) The competent authority shall apply the requirements laid down in the Act, regulations and Pension Rules issued thereunder in a manner which is proportionate to the nature, scale and complexity of the activities of the retirement scheme concerned.

(5) The competent authority shall duly consider the potential impact of its decisions on the stability of the financial system in the European Union, in particular, in emergency situations.