Part 1Master Trusts
Ongoing supervision of Master Trust schemes
14Requirement to submit annual accounts
(1)
The trustees of an authorised Master Trust scheme must send the scheme's accounts to the Pensions Regulator.
(2)
The accounts must be sent to the Regulator no later than two months after they are obtained by the trustees.
(3)
A scheme funder of a Master Trust scheme must send its accounts to the Pensions Regulator.
(4)
The scheme funder's accounts must be sent to the Regulator—
(a)
no later than nine months after the end of the financial year to which they relate, or
(b)
within such other period as may be specified in regulations made by the Secretary of State.
(5)
Section 10 of the Pensions Act 1995 (civil penalties) applies to a person who fails to comply with a requirement imposed by this section.
(6)
Regulations under this section are subject to negative resolution procedure.