The Occupational and Personal Pension Schemes (Levy) Regulations 1990

Time of payment: transitional provisions

6.—(1) Notwithstanding regulation 4(2) of these Regulations the first payment of the levy shall be as follows—

(a) in the case of a scheme which is established before 1st May 1991 the first payment of the levy shall be made at the time the trustees supply information to the registrar in accordance with regulation 4 of the Register Regulations, and if that payment is made before 1st April 1992 it shall be in respect of the registration year beginning on 1st April 1991 only, but otherwise it shall be in respect of the period of 3 registration years beginning on 1st April 1991;

(b) in the case of a scheme which is established after 30th April 1991 but before 1st April 1992 the first payment of the levy shall be made at the time the trustees supply information to the registrar in accordance with regulation 4 of the Register Regulations and shall be made in respect of the registration year beginning on 1st April 1991 only; and

(c) in the case of a scheme which is established after 31st March 1992 the first payment of the levy shall be made at the time the trustees supply information to the registrar in accordance with regulation 4 of the Register Regulations and shall be made in respect of a period of 3 registration years beginning with the registration year in which the scheme is established.

(2) Where a payment is made in accordance with paragraph (1)(a) or (b) above in respect only of the registration year which begins on 1st April 1991, the registrar shall assign a letter, “A”, “B” or “C”, to the scheme, the first application to be received being assigned the letter “A”, the second application the letter “B”, the third application the letter “C”, the fourth application the letter “A”, and so on.

(3) Notwithstanding regulation 4(2) of these Regulations the second payment of the levy shall be made in accordance with the following paragraphs.

(4) If a scheme has been assigned the letter “A” the second payment of the levy in respect of that scheme shall be for a period of one registration year.

(5) If a scheme has been assigned the letter “B” the second payment of the levy in respect of that scheme shall be for a period of 2 registration years.

(6) If the scheme has been assigned the letter “C” the second payment of the levy in respect of that scheme shall be for a period of 3 registration years.