The Personal and Occupational Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 1999

Amendment of the Occupational Pension Schemes (Scheme Administration) Regulations

11.—(1) The Occupational Pension Schemes (Scheme Administration) Regulations (Northern Ireland) 1997(1) shall be amended in accordance with paragraphs (2) to (5).

(2) In regulation 5 (manner and terms of appointment and removal of professional advisers) for paragraph (10) there shall be substituted the following paragraph—

“(10) Where a statement or declaration is made in accordance with paragraph (4) or (7), the trustees or managers shall—

(a) furnish the remaining auditor or actuary to the scheme with a copy of the statement or declaration no later than 14 days after the trustees or managers receive it; and

(b) furnish the succeeding auditor or actuary with a copy of the statement or declaration—

(i) no later than 14 days after the date on which the trustees or managers receive it; or

(ii) no later than the date of the succeeding auditor’s or actuary’s appointment,

whichever is the later.”.

(3) In regulation 11 (requirement for money to be kept by trustees: exception)—

(a) in paragraph (1)(a) for “a separate account held by that person” there shall be substituted “an account held by that person and separate from one held by or on behalf of the employer as employer”;

(b) in paragraph (1)(b) for the words from “a separate account” to the end there shall be substituted—

“an account—

(i) kept by them at any of the institutions specified in paragraphs 1 to 6 of Schedule 2 to the Banking Act 1987(2);

(ii) separate from one held by or on behalf of the employer as employer; and

(iii) in which the money received by them is to be held.”.

(4) In regulation 19(1)(a) (requirements which a payment schedule must satisfy) for the words from “amounts payable” to the end there shall be substituted “amounts prescribed in regulation 18 payable in the scheme year; and”.

(5) In regulation 21 (circumstances where notice of non-payment of any amount payable to a scheme need not be given) after paragraph (2) there shall be inserted the following paragraph—

“(3) Notice need not be given under regulation 20(a) if—

(a) payment has been made no later than 10 days after the due date; and

(b) the default is only the first or second such default in the period of 12 months ending on the due date.”.

(1)

S.R. 1997 No. 94; to which there are amendments not relevant to these regulations

(2)

1987 c. 22