Pension – Pension scheme. The present proceedings concerned the extent to which, following a warning notice, the Pensions Regulator (TPR) could rely on grounds that it did not mention in the warning notice, if its action was challenged. The Court of Appeal, Civil Division, held that the discretion of the Upper Tribunal (Tax and Chancery Chamber) (the tribunal) to allow TPR to rely on additional grounds was not fettered by a threshold test of 'good reason'. The exercise of the tribunal's discretion to allow TPR to raise a new case not contained in the warning notice should depend on a consideration of all the relevant factors in the case.