Duty of the Regulator to issue scheme return noticesN.I.
58.—(1) The Regulator must issue scheme return notices in accordance with this Article requiring scheme returns to be provided in respect of registrable schemes.
(2) In respect of each registrable scheme, the Regulator—
(a)must issue the first scheme return notice in accordance with paragraph (3), and
(b)must issue subsequent scheme return notices in accordance with paragraph (4).
(3) The return date specified in a scheme return notice issued in respect of a scheme under paragraph (2)(a)—
(a)must fall within the period of three years beginning with—
(i)the date on which the Regulator receives a notice under Article 57(2)(a) in respect of the scheme, or
(ii)if earlier, the date on which the Regulator first becomes aware that the scheme is a registrable scheme, and
(b)if the trustees or managers have complied with sub-paragraph (b) of Article 57(2), must fall after the end of the period of one year beginning with the date on which they provided the information required by that sub-paragraph to the Regulator.
[F1(3A) But paragraph (3)(a) has effect as if the reference to three years were a reference to five years if—
(a)the trustees or managers have complied with sub-paragraph (b) of Article 57(2),
(b)the information they provided under that sub-paragraph included the number of members of the scheme, and
(c)that number was no more than 4.]
(4) The return date specified in a scheme return notice issued in respect of a scheme under paragraph (2)(b) must fall—
(a)within the period of three years, but
(b)after the end of the period of one year,
beginning with the return date specified in the previous scheme return notice issued in respect of the scheme.
[F2(4A) But paragraph (4)(a) has effect as if the reference to three years were a reference to five years if—
(a)on the date on which the previous scheme return notice was issued, the number of members of the scheme was recorded in the register, and
(b)that number was no more than 4.]
F1Art. 58(3A) inserted (16.7.2015) by Pensions Act (Northern Ireland) 2015 (c. 5), ss. 47(2), 53(1); S.R. 2015/307, art. 2(1)(j)
F2Art. 58(4A) inserted (16.7.2015) by Pensions Act (Northern Ireland) 2015 (c. 5), ss. 47(3), 53(1); S.R. 2015/307, art. 2(1)(j)