The Occupational and Personal Pension Schemes (Levy) Regulations (Northern Ireland) 1997

The general levy

2.—(1) For the purpose of meeting expenditure under section 2(1), Part X(2) and section 169(3) and of the Regulatory Authority, the trustees of every registrable occupational pension scheme shall be liable to pay a levy to the Department.

(2) For the purpose of meeting expenditure under section 2, Part X and section 169, the trustees of every registrable personal pension scheme shall be liable to pay a levy to the Department.

(3) In these Regulations, the levy payable to the Department by a registrable scheme under paragraph (1) or (2) shall be referred to as “the general levy”.

(4) The general levy shall be payable in respect of each registration year.

(5) Subject to regulation 8, where, during a registration year, a scheme—

(a) becomes a registrable scheme;

(b) ceases to be a registrable scheme; or

(c) is wound up,

the general levy shall nevertheless be payable in full for that year.

(1)

Section 2 was amended by paragraph 13 of Schedule 1 to the Pensions (Northern Ireland) Order 1995

(2)

Part X is amended by Articles 152 to 156 of the Pensions (Northern Ireland) Order 1995

(3)

Section 169 is amended by paragraph 63 of Schedule 3 to the Pensions (Northern Ireland) Order 1995