55. (1) The Minister may by regulation require financial service providers and pension providers to establish procedures for dealing with complaints.

(2) Regulations under this section may—

(a) require procedures referred to in subsection (1) to comprise specified steps, including, as the Minister considers appropriate—

(i) the making of an application for a determination to be made in relation to the complaint,

(ii) the conducting of a hearing in relation to the matter concerned, and

(iii) the making of a determination in relation to the matter,

(b) require one or more of the internal dispute resolution steps to be taken or completed within a specified period,

(c) require the provision of information in relation to the existence of those procedures and how they may be availed of,

(d) prescribe such other requirements as the Minister considers necessary or expedient for the purpose of enabling complaints referred to in this subsection to be dealt with or resolved,

(e) require financial service providers and pension providers to publish their internal dispute resolution procedures, and

(f) as respects schemes, specify different requirements by reference to the class of scheme concerned (being a class defined in the regulations by reference to the number of members of the scheme or such other matters as the Minister considers appropriate).