The Occupational Pension Schemes (Miscellaneous Amendments) Regulations 1988

Amendment of the Occupational Pension Schemes (Disclosure of Information) Regulations 1986

8.—(1) The Occupational Pension Schemes (Disclosure of Information) Regulations 1986(1) shall be amended in accordance with the provisions of this regulation.

(2) In regulation 1(2) of those Regulations, in the definition of “trustees” there shall be added at the end “, except in relation to a scheme established outside the United Kingdom and in such a case “trustees” means the person or body treated by the Board of Inland Revenue for the time being as the administrator of the scheme for the purposes of Chapter I of Part XIV of the Income and Corporation Taxes Act 1988”.

(3) In regulation 3 of those Regulations—

(a) after sub-paragraph (b) of paragraph (1) there shall be inserted the word “or” and the following sub-paragraph—

“(c) unless it has at least 2 members in employment in the United Kingdom to which it relates and either—

(i) it is established in the United Kingdom, or

(ii) it has 1 or more trustees resident in the United Kingdom.”;

(b) after sub-paragraph (c) of paragraph (2) there shall be inserted the word “or” and the following sub-paragraph—

“(d) any person whose employment is not in the United Kingdom, unless he is a person whose earnings give rise to a liability for payment of primary Class I contributions, or would do if they were equal to or greater than the lower earnings limit.”.

(4) In regulation 4 of those Regulations, after paragraph (4) there shall be inserted the following paragraph—

“(5) Any document of which disclosure is required by paragraph (1) which is not in the English language shall be accompanied by a translation in that language.”.

(5) In regulation 7 of those Regulations, after paragraph (5) there shall be inserted the following paragraph—

“(6) Where the audited accounts of a scheme established outside the United Kingdom such as are mentioned in paragraph (1) fall to be prepared outside of the United Kingdom, they shall be prepared in accordance with the law of, and the professional practices prevalent in, the country in which they are prepared.”.

(6) In regulation 8 of those Regulations, after sub-paragraph (a) of paragraph (2) there shall be inserted the following sub-paragraph—

“(aa) to a scheme established outside the United Kingdom; or”.

(7) In regulation 9 of those Regulations—

(a) in sub-paragraph (a) of paragraph (1) there shall be inserted at the beginning “subject to sub-paragraph (aa);”;

(b) after sub-paragraph (a) of paragraph (1) there shall be inserted the following sub-paragraph:—

“(aa) in relation to a scheme established outside the United Kingdom, a copy of the accounts for the scheme year to which the document relates;”; and

(c) in paragraph (4), after “request and of the person who” there shall be inserted “or trade union which”.

(1)

S.I. 1986/1046; the relevant amending instruments are S.I. 1986/1717 and 1987/1105.