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The Occupational Pension Schemes (Requirement to obtain Audited Accounts and a Statement from the Auditor) Regulations 1996, Section 1 is up to date with all changes known to be in force on or before 25 April 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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1.—(1) These Regulations may be cited as the Occupational Pension Schemes (Requirement to obtain Audited Accounts and a Statement from the Auditor) Regulations 1996 and shall come into force on 6th April 1997.
(2) In these Regulations—
“ear-marked scheme" means an occupational pension scheme [F1under which all the benefits other than death benefits are money purchase benefits and all the benefits] are secured by one or more policies of insurance or annuity contracts and such policies or contracts are specifically allocated to the provision of benefits for individual members or any other person who has a right to benefits under the scheme;
[F2“group of companies” has the meaning given by section 71 of the Finance Act 2005;]
[F3“money purchase benefits” has the same meaning as in section 181(1) of the Pension Schemes Act 1993;]and
“scheme year" means—
a year specified for the purposes of the scheme in any document comprising the scheme or, if none, a period of 12 months commencing on 1st April or on such date as the trustees or managers select; or
such other period (if any) exceeding 6 months but not exceeding 18 months as is selected by the trustees or managers in connection with—
the commencement or termination of the scheme, or
a variation of the date on which the year or period referred to in paragraph (a) is to commence.
(3) In these Regulations, unless the context otherwise requires, a reference—
(a)to a numbered regulation is to the regulation bearing that number in these Regulations;
(b)in a regulation to a numbered paragraph is to the paragraph bearing that number in that regulation.
Textual Amendments
F1Words in reg. 1(2) substituted (6.4.1997) by The Personal and Occupational Pension Schemes (Miscellaneous Amendments) Regulations 1997 (S.I. 1997/786), reg. 1, Sch. 1 para. 13(2)(a)
F2Words in reg. 1 inserted (30.8.2005, 22.9.2005 for specified purposes, 6.4.2006 in so far as not already in force) by Occupational Pension Schemes (Administration and Audited Accounts) (Amendment) Regulations 2005 (S.I. 2005/2426), regs. 1(2), 2(2)
F3Words in reg. 1(2) substituted (6.4.1997) by The Personal and Occupational Pension Schemes (Miscellaneous Amendments) Regulations 1997 (S.I. 1997/786), reg. 1, Sch. 1 para. 13(2)(b)
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