Registration of stakeholder pension schemes
4.—(1) The Authority shall keep a register of stakeholder pension schemes.
(2) Subject to paragraph (3), the Authority shall register a pension scheme under this Article if the trustees of the scheme, or any person or persons prescribed in relation to the scheme—
(a)make an application for the purpose and pay such fee as the Authority may determine; and
(b)declare that each of the following is fulfilled in relation to the scheme, namely—
(i)the conditions set out in paragraphs (2) to (9) of Article 3; and
(ii)such other conditions as may be prescribed under paragraph (1) of that Article.
(3) Where the Authority are satisfied on reasonable grounds that any of those conditions is not fulfilled in relation to a pension scheme, the Authority may—
(a)refuse to register the scheme; or
(b)where the scheme is registered under this Article, remove it from the register.
(4) Article 3 (prohibition orders) and Article 10 (civil penalties) of the Pensions Order apply to any trustee of a pension scheme which is or has been registered under this Article, and Article 10 of that Order applies to any person prescribed in relation to such a scheme, if—
(a)he fails to take all such steps as are reasonable to secure that each of those conditions is fulfilled in relation to the scheme or (as the case may be) while the scheme was so registered he failed to take all such steps as were reasonable to secure that each of those conditions was so fulfilled; or
(b)where the scheme was registered on his application, any of those conditions was not fulfilled in relation to the scheme at the time of the application.
(5) Any person who, in applying for registration of a pension scheme under this Article, knowingly or recklessly provides the Authority with information which is false or misleading in a material particular shall be liable—
(a)on summary conviction, to a fine not exceeding the statutory maximum;
(b)on conviction on indictment, to imprisonment or a fine or both.
(6) The Department may by regulations make provision—
(a)for the register, or extracts from the register, or for copies of the register or of extracts from the register, to be open to inspection by, and
(b)for copies of the register, or of extracts from it, to be supplied to,
such persons, in such manner, at such times, on payment of such fees, and subject to such other terms and conditions, as may be prescribed.