The Occupational Pension Schemes (Payments to Employers) Regulations (Northern Ireland) 1997

Circumstances in which the Authority must be satisfied that the requirements of Article 37 are met

5.—(1) For the purposes of Article 37(3) (which provides that, in prescribed circumstances, the power to make payments to an employer out of funds held for the purposes of a scheme cannot be exercised unless the Authority are of the opinion that the requirements of Article 37(4) and any prescribed requirements are satisfied) the prescribed circumstances are—

(a) that, subject to paragraph (2) of this regulation, the Authority receive (in relation to any proposals to which that Article applies)—

(i) written representations from a member to the effect that any of the requirements of Article 37(4) are not satisfied; or

(ii) information from any source sufficient to raise a doubt as to whether all those requirements are satisfied; and

(b) the Authority notify the trustees in writing that no payment should be made to the employer in accordance with the proposals until the Authority have confirmed in writing that the Authority are satisfied that those requirements are satisfied.

(2) Where the trustees have given notice to a member in accordance with regulation 4, paragraph (1)(a)(i) shall only apply in the case of representations received by the Authority from the member before the date specified in accordance with regulation 4(4)(b) (expiry date of the second notice).