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OPS firm

      1. (a) (except in IPRU(INV)) a firm which:
        1. (i) carries on OPS activity; and
        1. (ii) is one or more of the following:
          1. (A) a trustee of the occupational pension scheme in question;
          1. (B) a company owned by the trustees of the occupational pension scheme in question;
          1. (C) a company which is:
            1. (I) an employer in relation to the occupational pension scheme in question in respect of its employees or former employees or their dependants; or
            1. (II) a company within the group which includes an employer within (I); or
            1. (III) an administering authority subject to the Local Government Pension Scheme Regulations 2013 as in force on 1 April 201891; or36888936
      1. (b) a firm which:
        1. (i) has satisfied the requirements set out in (a) at any time during the past 12 months; but
        1. (ii) is no longer able to comply with those requirements because of a change in the control or ownership of the employer referred to in (a)(ii) during that period.4