Amendment of the Occupational Pension Schemes (Minimum Funding Requirement and Actuarial Valuations) Regulations 19963
1
The Occupational Pension Schemes (Minimum Funding Requirement and Actuarial Valuations) Regulations 1996 shall have effect with the following amendments.
2
In regulation 23 (failure to pay contributions due under schedule of contributions)–
a
in paragraph (1), for the words “A notice,”, substitute the words “ Subject to paragraph (4), a notice”;
b
after paragraph (3) insert–
4
Where, under section 49(9)(b) there is a requirement on the trustees or managers to give notice of a failure to pay within a prescribed time an amount corresponding to any contribution payable on behalf of an active member which has been deducted from the member’s earnings, the trustees or managers shall not be required to give notice of a failure to pay such amount by the due date for the purposes of subsection (1) section 59 of that Act, in a case to which that subsection would otherwise apply.