Member

The noble Viscount asked for more detail. There is more detail to come. Subject to parliamentary approval—which I am not assuming—these regulations will come into force on 31 July 2026. He will be pleased to know that in the very near future, the regulator will launch a consultation on its code. We plan on laying the draft code of practice before Parliament during this parliamentary Session so that it can be in place for commencement. We anticipate that some prospective unconnected multiple employer CDC schemes will apply for authorisation soon after that. However, the code of practice is where he may find some of what he is looking for, and I commend that to him. It will be out very shortly, and I am very happy to alert him when it is published, which will be soon.