xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"

Part XIU.K. General and miscellaneous provisions

Financial provisionsE+W+S

174 Grants by the Board to advisory bodies etc.E+W+S

(1)The [F1Regulatory Authority] may make grants on such terms and conditions as they think fit to any person or body of persons providing advice or assistance, or carrying out other prescribed functions, in connection with occupational or personal pensions.

(2)The Secretary of State may pay the [F1Regulatory Authority] such sums as he may think fit towards any expenditure of theirs in making grants under this section.

Textual Amendments

F1Words in s. 174 substituted (1.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 5 para. 73; S.I. 1997/664, art. 2(2), Sch. Pt. 1

Commencement Information

I1Ss. 1-187 in force at 7.2.1994 by S.I. 1994/86, art. 2

175 F2...[F2Levies towards certain expenditure]E+W+S

F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F2(1)For the purpose of meeting expenditure—

(a)under section 6,

(b)under Part X and section 174, or

(c)of the Regulatory Authority (including the establishment of the authority and, if the authority are appointed as Registrar under section 6 of this Act, their expenditure as Registrar),

regulations may make provision for imposing levies in respect of prescribed occupational or prescribed personal pension schemes.

(2)Any levy imposed under subsection (1) is payable to the Secretary of State by or on behalf of—

(a)the administrators of any prescribed public service pension scheme,

(b)the trustees or managers of any other prescribed occupational or prescribed personal pension scheme, or

(c)any other prescribed person,

at prescribed rates and at prescribed times.

(3)Regulations made by virtue of subsection (1)—

(a)in determining the amount of any levy in respect of the Regulatory Authority, must take account (among other things) of any amounts paid to the Secretary of State under section 168(4) of this Act or section 10 of the Pensions Act 1995, and

(b)in determining the amount of expenditure in respect of which any levy is to be imposed, may take one year with another and, accordingly, may have regard to expenditure estimated to be incurred in current or future periods and to actual expenditure incurred in previous periods (including periods ending before the coming into force of this subsection).

(4)Regulations may make provision for imposing a levy in respect of prescribed occupational pension schemes for the purpose of meeting expenditure of the Pensions Compensation Board (including the establishment of the Board).

(5)Any levy imposed under subsection (4) is payable to the Board by or on behalf of—

(a)the trustees of any prescribed occupational pension scheme, or

(b)any other prescribed person,

at prescribed times and at a rate, not exceeding the prescribed rate, determined by the Board.

(6)In determining the amount of expenditure in respect of which any levy under subsection (4) is to be imposed, the Board, and regulations made by virtue of subsection (5), may take one year with another and, accordingly, may have regard to expenditure estimated to be incurred in current or future periods and to actual expenditure incurred in previous periods (including periods ending before the coming into force of this subsection).

(7)Notice of the rates determined by the Board under subsection (5) must be given to prescribed persons in the prescribed manner.

(8)An amount payable by a person on account of a levy imposed under this section shall be a debt due from him to the appropriate person, that is—

(a)if the levy is imposed under subsection (1), the Secretary of State, and

(b)if the levy is imposed under subsection (4), the Board,

and an amount so payable shall be recoverable by the appropriate person accordingly or, if the appropriate person so determines, be recoverable by the Registrar on behalf of the appropriate person.

(9)Without prejudice to the generality of subsections (1) and (4), regulations under this section may include provision relating to—

(a)the collection and recovery of amounts payable by way of levy under this section, or

(b)the circumstances in which any such amount may be waived.]

Textual Amendments

F2S. 175 substituted (16.10.1996 for specified purposes, 1.4.1997 in so far as not already in force) by Pensions Act 1995 (c. 26), ss. 165, 180(1); S.I. 1996/2637, art. 3(c); S.I. 1997/664, art. 2(2), Sch. Pt. 1

Commencement Information

I1Ss. 1-187 in force at 7.2.1994 by S.I. 1994/86, art. 2

176 Fees for official services to schemes.E+W+S

Where at the request of the trustees or managers of an occupational pension scheme or a personal pension scheme or of any employer of earners who are members of such a scheme, official services are provided in connection with the operation or administration of the scheme [F3by the Secretary of State], the Secretary of State may require the payment of fees for the provision of those services.

Textual Amendments

Commencement Information

I1Ss. 1-187 in force at 7.2.1994 by S.I. 1994/86, art. 2

177 General financial arrangements.E+W+S

(1)Subject to the following provisions of this section, all expenses incurred by the Secretary of State under this Act shall be paid out of money provided by Parliament except so far as they may be required by any enactment to be paid or borne in some other way.

(2)There shall be paid out of the National Insurance Fund—

(a)minimum contributions paid by the Secretary of State under section 43;

(b)payments by him under section 124.

(3)Subject to subsection (4), there shall be paid out of the National Insurance Fund into the Consolidated Fund—

(a)sums equal to the amount of any expenses incurred by the Secretary of State (or by persons acting on his behalf) in exercising his functions under Chapter II of Part VII and section 157;

(b)such sums as the Secretary of State may estimate to be the amount of the administrative expenses of the Secretary of State or any government department in carrying into effect the remaining provisions of this Act, other than—

(i)F4... Chapter I of Part IV and Part VIII so far as it applies for the purposes of that Chapter, sections F5... 153(2), 158(1) to (5), 162, 163, F4...and 176F4...;

(ii)sections 7, 9, 26 to 34, 38 and 50 (so far as they relate to personal pension schemes), section 54, F6... section 111 (and Part VIII and section 153 so far as they have effect for the purposes of section 111), sections 117, 154 and 155 and section 159 (so far as it relates to protected rights payments) and sections 160 and 166.

(4)The sums payable under subsection (3)(b)—

(a)shall be estimated in accordance with any directions given by the Treasury and (except in the case of functions relating to minimum contributions) shall exclude such categories of expenses as the Treasury may direct, or any enactment may require, to be so excluded; and

(b)shall be payable at such times and in such manner as the Treasury may direct.

(5)There shall be paid into the Consolidated Fund—

(a)subject to subsection (6), so far as it relates to payments out of money provided by Parliament, any sum recovered by the Secretary of State under or by virtue of the provisions within subsection (3)(b)(ii); and

(b)all fees paid to the Registrar.

(6)So far as any such sum relates to a payment out of the National Insurance Fund, it shall be paid into that Fund.

(7)There shall also be paid into the National Insurance Fund—

(a)sums recovered under section 43(5) or (6);

F7(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c)any sum recovered by the Secretary of State in exercising any right or pursuing any remedy which is his by virtue of section 127; and

(d)any sums received by him by way of such payments as are mentioned in paragraph 5(4) of Schedule 2.

Textual Amendments

Commencement Information

I1Ss. 1-187 in force at 7.2.1994 by S.I. 1994/86, art. 2