Part 4Pension schemes etc
Chapter 7Compliance
Penalties
257Registered pension scheme return
(1)
If the scheme administrator of a registered pension scheme fails to comply with a notice under section 250 (registered pension scheme return), the scheme administrator is liable to a penalty of £100.
(2)
If the failure continues after a penalty is imposed under subsection (1), the scheme administrator is liable to a further penalty not exceeding £60 for each day on which the failure continues after the day on which that penalty was imposed (but excluding any day for which a penalty under this subsection has already been imposed).
(3)
No penalty may be imposed under subsection (1) or (2) in respect of a failure after it has been remedied.
(4)
If the scheme administrator of a registered pension scheme fraudulently or negligently—
(a)
makes an F1inaccurate return required by a notice under section 250, or
(b)
delivers any F1inaccurate accounts, statements or other documents with such a return,
the scheme administrator is liable to a penalty not exceeding £3,000.