Pensions Bill

House of Commons

Session 2003 - 04
Internet Publications
Other Bills before Parliament

Pensions Bill

Pensions Bill
Part 1 — The Pensions Regulator
32

50
Inspection of premises: supplementary
(1)
This section applies for the purposes of sections 47 to 49.
(2)
Premises which are a private dwelling-house not used by, or by permission of,
the occupier for the purposes of a trade or business are not liable to inspection.
(3)
Any question whether—
5
(a)
anything is being or has been done or omitted which might by virtue of
any of the regulatory provisions give rise to a liability for a civil penalty
under or by virtue of section 10 of the Pensions Act 1995 (c. 26) or
section 168(4) of the Pension Schemes Act 1993 (c. 48) (or under or by
virtue of any provision in force in Northern Ireland corresponding to
10
either of them), or
(b)
an offence is being or has been committed under any of the regulatory
provisions,

is to be treated as a question whether the regulatory provision is being, or has
been, complied with.
15
(4)
An inspector applying for admission to any premises for the purposes of
section 47 or 48 must, if so required, produce his certificate of appointment.
(5)
When exercising a power under section 47, 48 or 49 an inspector may be
accompanied by such persons as he considers appropriate.
(6)
Any document of which possession is taken under section 49 may be
20
retained—
(a)
if the document is relevant to proceedings against any person for any
offence which are commenced before the end of the retention period,
until the conclusion of those proceedings, and
(b)
otherwise, until the end of the retention period.
25
(7)
In subsection (6), “the retention period” means the period comprising—
(a)
the period of 12 months beginning with the date on which possession
was taken of the document, and
(b)
any extension of that period under subsection (8).
(8)
The Regulator may, by a direction made before the end of the retention period
30
(including any extension of it under this subsection), extend it by such period
not exceeding 12 months as the Regulator considers appropriate.
(9)
“The regulatory provisions”, in relation to an inspection under subsection (1),
(3) or (4) of section 47 or subsection (1) or (4) of section 48, means the provision
or provisions referred to in that subsection.
35
51
Penalties relating to sections 46 to 49
(1)
A person who, without reasonable excuse, neglects or refuses to provide
information or produce a document when required to do so under section 46 is
guilty of an offence.
(2)
A person who without reasonable excuse—
40
(a)
intentionally delays or obstructs an inspector exercising any power
under section 47, 48 or 49,
(b)
neglects or refuses to produce, or secure the production of, any
document when required to do so under section 49, or

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Part 1 — The Pensions Regulator
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(c)
neglects or refuses to answer a question or to provide information
when so required,
is guilty of an offence.
(3)
A person guilty of an offence under subsection (1) or (2) is liable on summary
conviction to a fine not exceeding level 5 on the standard scale.
5
(4)
An offence under subsection (1) or (2)(b) or (c) may be charged by reference to
any day or longer period of time; and a person may be convicted of a second
or subsequent offence by reference to any period of time following the
preceding conviction of the offence.
(5)
Any person who intentionally and without reasonable excuse alters,
10
suppresses, conceals or destroys any document which he is or is liable to be
required under section 46 or 49 to produce to the Regulator is guilty of an
offence.
(6)
Any person guilty of an offence under subsection (5) is liable—
(a)
on summary conviction, to a fine not exceeding the statutory
15
maximum;
(b)
on conviction on indictment, to a fine or imprisonment for a term not
exceeding two years, or both.
52
Warrants
(1)
A justice of the peace may issue a warrant under this section if satisfied on
20
information on oath given by or on behalf of the Regulator that there are
reasonable grounds for believing—
(a)
that there is on, or accessible from, any premises any document—
(i)
whose production has been required under section 46 or 49, or
any corresponding provision in force in Northern Ireland, and
25
(ii)
which has not been produced in compliance with that
requirement,
(b)
that there is on, or accessible from, any premises any document whose
production could be so required and, if its production were so required,
the document—
30
(i)
would not be produced, but
(ii)
would be removed, or made inaccessible, from the premises,
hidden, tampered with or destroyed, or
(c)
that—
(i)
an offence has been committed,
35
(ii)
a person will do any act which constitutes a misuse or
misappropriation of the assets of an occupational pension
scheme or a personal pension scheme,
(iii)
a person is liable to pay a penalty under or by virtue of section
10 of the Pensions Act 1995 (c. 26) (civil penalties) or section
40
168(4) of the Pension Schemes Act 1993 (c. 48) (civil penalties for
breach of regulations), or under or by virtue of any provision in
force in Northern Ireland corresponding to either of them, or
(iv)
a person is liable to be prohibited from being a trustee of an
occupational or personal pension scheme under section 3 of the
45
Pensions Act 1995 (prohibition orders), including that section as
it applies by virtue of paragraph 1 of Schedule 1 to the Welfare
Reform and Pensions Act 1999 (c. 30) (stakeholder schemes), or

Pensions Bill
Part 1 — The Pensions Regulator
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under or by virtue of any corresponding provisions in force in
Northern Ireland,

and that there is on, or accessible from, any premises any document
which relates to whether the offence has been committed, whether the
act will be done or whether the person is so liable, and whose
5
production could be required under section 46 or 49 or any
corresponding provision in force in Northern Ireland.
(2)
A warrant under this section shall authorise an inspector—
(a)
to enter the premises specified in the information, using such force as is
reasonably necessary for the purpose,
10
(b)
to search the premises and—
(i)
take possession of any document appearing to be such a
document as is mentioned in subsection (1), or
(ii)
take in relation to such a document any other steps which
appear necessary for preserving it or preventing interference
15
with it,
(c)
to take copies of any such document,
(d)
to require any person named in the warrant to provide an explanation
of any such document or to state where it may be found or how access
to it may be obtained, and
20
(e)
in the case of any such document which consists of information which
is stored in electronic form and is on, or accessible from, the premises,
to require the information to be produced in a form—
(i)
in which it can be taken away, and
(ii)
in which it is legible or from which it can readily be produced
25
in a legible form.
(3)
In subsection (1)—
(a)
any reference in paragraph (a) or (b) to a document does not include
any document which—
(i)
is relevant to whether a person has complied with subsection (3)
30
of section 195 (information and advice to employees) or
regulations under subsection (4) of that section, and
(ii)
is not relevant to the exercise of the Regulator’s functions for
any other reason, and
(b)
any liability to pay a penalty under section 10 of the Pensions Act 1995
35
(c. 26) which might arise out of a failure to comply with subsection (3)
of section 195 or regulations under subsection (4) of that section is to be
disregarded for the purposes of paragraph (c)(iii);

and the references in subsection (2) to such a document as is mentioned in
subsection (1) are to be read accordingly.
40
(4)
When executing a warrant under this section, an inspector may be
accompanied by such persons as he considers appropriate.
(5)
A warrant under this section continues in force until the end of the period of
one month beginning with the day on which it is issued.
(6)
Any document of which possession is taken under this section may be
45
retained—
(a)
if the document is relevant to proceedings against any person for any
offence which are commenced before the end of the retention period,
until the conclusion of those proceedings, and

Pensions Bill
Part 1 — The Pensions Regulator
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(b)
otherwise, until the end of the retention period.
(7)
In subsection (6), “the retention period” means the period comprising—
(a)
the period of 12 months beginning with the date on which possession
was taken of the document, and
(b)
any extension of that period under subsection (8).
5
(8)
The Regulator may, by a direction made before the end of the retention period
(including any extension of it under this subsection), extend it by such period
not exceeding 12 months as the Regulator considers appropriate.
(9)
In the application of this section in Scotland—
(a)
the reference to a justice of the peace is to be read as a reference to a
10
justice within the meaning of the Criminal Procedure (Scotland) Act
1995 (c. 46), and
(b)
the references in subsections (1) and (2)(a) to information are to be read
as references to evidence.
53
Sections 46 to 52: interpretation
15
(1)
This section applies for the purposes of sections 46 to 52.
(2)
“Document” includes information recorded in any form, and any reference to
production of a document, in relation to information recorded otherwise than
in a legible form, is to producing a copy of the information—
(a)
in a legible form, or
20
(b)
in a form from which it can readily be produced in a legible form.
(3)
“Inspector” means a person appointed by the Regulator as an inspector.
Provision of false or misleading information
54
Offences of providing false or misleading information
(1)
Any person who knowingly or recklessly provides the Regulator with
25
information which is false or misleading in a material particular is guilty of an
offence if the information—
(a)
is provided in purported compliance with a requirement under—
(i)
section 37 (the register: duties of trustees or managers),
(ii)
section 39 (duty of trustees or managers to provide scheme
30
return),
(iii)
section 46 (provision of information), or
(iv)
section 49 (inspection of premises: powers of inspectors),
(b)
is provided in applying for registration of a pension scheme under
section 2 of the Welfare Reform and Pensions Act 1999 (c. 30)
35
(registration of stakeholder pension schemes), or
(c)
is provided otherwise than as mentioned in paragraph   (a) or (b) but in
circumstances in which the person providing the information intends,
or could reasonably be expected to know, that it would be used by the
Regulator for the purpose of exercising its functions under this Act or
40
the Pensions Act 1995 (c. 26).
(2)
Any person guilty of an offence under subsection (1) is liable—

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Part 1 — The Pensions Regulator
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(a)
on summary conviction, to a fine not exceeding the statutory
maximum;
(b)
on conviction on indictment, to a fine or imprisonment for a term not
exceeding two years, or both.
Use of information
5
55
Use of information
Information—
(a)
contained in the register, or
(b)
otherwise held by the Regulator in the exercise of any of its functions,
may be used by the Regulator for the purposes of, or for any purpose
10
connected with or incidental to, the exercise of its functions.
Disclosure of information
56
Restricted information
(1)
Except as provided by sections 58 to 61 and 192, restricted information must
not be disclosed—
15
(a)
by the Regulator, or
(b)
by any person who receives the information directly or indirectly from
the Regulator,

except with the consent of the person to whom it relates and (if different) the
person from whom the Regulator obtained it.
20
(2)
For the purposes of this section and sections 57 to 61, “restricted information”
means any information obtained by the Regulator in the exercise of its
functions which relates to the business or other affairs of any person, except for
information—
(a)
which at the time of the disclosure is or has already been made
25
available to the public from other sources, or
(b)
which is in the form of a summary or collection of information so
framed as not to enable information relating to any particular person to
be ascertained from it.
(3)
Any person who discloses information in contravention of this section is guilty
30
of an offence and liable—
(a)
on summary conviction, to a fine not exceeding the statutory
maximum;
(b)
on conviction on indictment, to a fine or imprisonment for a term not
exceeding two years, or both.
35
57
Information supplied to the Regulator by corresponding overseas authorities
(1)
Subject to subsection (2), for the purposes of section 56, “restricted
information” includes information which has been supplied to the Regulator,
for the purposes of its functions, by an authority which exercises functions
corresponding to the functions of the Regulator in a country or territory
40
outside the United Kingdom.

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Part 1 — The Pensions Regulator
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(2)
Sections 58 to 61 do not apply to such information as is mentioned in
subsection (1), and such information must not be disclosed except—
(a)
as provided in section 56,
(b)
for the purpose of enabling or assisting the Regulator to discharge its
functions, or
5
(c)
with a view to the institution of, or otherwise for the purposes of, any
criminal proceedings.
58
Disclosure for facilitating exercise of functions by the Regulator
(1)
Section 56 does not preclude the disclosure of restricted information in any
case in which disclosure is for the purpose of enabling or assisting the
10
Regulator to exercise its functions.
(2)
Subsection (3) applies where, in order to enable or assist the Regulator properly
to exercise any of its functions, the Regulator considers it necessary to seek
advice from any qualified person on any matter of law, accountancy, valuation
or other matter requiring the exercise of professional skill.
15
(3)
Section 56 does not preclude the disclosure by the Regulator to a person
qualified to provide that advice of such information as appears to the
Regulator to be necessary to ensure that he is properly informed with respect
to the matters on which his advice is sought.
59
Disclosure for facilitating exercise of functions by the Board
20
Section 56 does not preclude the disclosure of restricted information in any
case in which disclosure is for the purpose of enabling or assisting the Board of
the Pension Protection Fund to exercise its functions.
60
Disclosure for facilitating exercise of functions by other supervisory
authorities
25
(1)
Section 56 does not preclude the disclosure by the Regulator of restricted
information to any person specified in the first column of Schedule 3 if the
Regulator considers that the disclosure would enable or assist that person to
exercise the functions specified in relation to him in the second column of that
Schedule.
30
(2)
The Secretary of State may after consultation with the Regulator—
(a)
by order amend Schedule 3 by—
(i)
adding any person exercising regulatory functions and
specifying functions in relation to that person,
(ii)
removing any person for the time being specified in the
35
Schedule, or
(iii)
altering the functions for the time being specified in the
Schedule in relation to any person, or
(b)
by order restrict the circumstances in which, or impose conditions
subject to which, disclosure may be made to any person for the time
40
being specified in the Schedule.