Pensions Bill

House of Commons

Session 2003 - 04
Internet Publications
Other Bills before Parliament

Pensions Bill

Pensions Bill
Part 1 — The Pensions Regulator
35


“relevant employer” means any person—
(a)
who is, or
(b)
who, at any time on or after 6th April 1975, has been,

the employer in relation to the scheme; and

“relevant date”, in relation to a relevant employer, means—
5
(a)
6th April 1975, or
(b)
if later, the date on which the relevant employer first became the
employer in relation to the scheme.
50
The register: inspection, provision of information and reports etc
(1)
Regulations may provide—
10
(a)
for—
(i)
information recorded in the register,
(ii)
extracts from the register, or
(iii)
copies of the register or of extracts from it,

to be provided to prescribed persons in prescribed circumstances, and
15
(b)
for the inspection of—
(i)
the register,
(ii)
extracts from the register, or
(iii)
copies of the register or of extracts from it,

by prescribed persons in prescribed circumstances.
20
(2)
Regulations under subsection (1) may, in particular—
(a)
confer functions on—
(i)
the Secretary of State, or
(ii)
a person authorised by him for the purposes of the regulations;
(b)
make provision with respect to the disclosure of information obtained
25
by virtue of the regulations.
(3)
Regulations which contain any provision made by virtue of subsection (2)(b)
may, in particular, modify section 71 (restricted information).
(4)
The Secretary of State may direct the Regulator to submit to him statistical and
other reports concerning—
30
(a)
information recorded in the register, and
(b)
the operation of the Regulator’s functions in relation to the register.
(5)
A direction under subsection (4) may specify—
(a)
the form in which, and
(b)
the times at which,
35

reports required by the direction are to be submitted.
(6)
The Secretary of State may publish any report submitted to him by virtue of a
direction under subsection (4) in such manner as he considers appropriate.
51
The register: duties of trustees or managers
(1)
Subsection (2) applies where—
40
(a)
a registrable scheme is established, or
(b)
an occupational or personal pension scheme otherwise becomes a
registrable scheme.

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Part 1 — The Pensions Regulator
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(2)
The trustees or managers of the scheme must, before the end of the initial
notification period—
(a)
notify the Regulator that the scheme is a registrable scheme, and
(b)
provide to the Regulator all the registrable information with respect to
the scheme.
5
(3)
In subsection (2), the “initial notification period” means the period of three
months beginning with—
(a)
the date on which the scheme is established, or
(b)
if later, the date on which it becomes a registrable scheme.
(4)
Where there is a change in any registrable information in respect of a
10
registrable scheme, the trustees or managers of the scheme must as soon as
reasonably practicable, notify the Regulator—
(a)
of that fact, and
(b)
of the new registrable information.
(5)
Where a registrable scheme—
15
(a)
ceases to be a registrable scheme, or
(b)
is wound up (otherwise than under section 144(2) (effect of Board
assuming responsibility for scheme)),

the trustees or managers of the scheme must as soon as reasonably practicable,
notify the Regulator of that fact.
20
(6)
If subsection (2), (4) or (5) is not complied with, section 10 of the Pensions Act
1995 (c. 26) (civil penalties) applies to any trustee or manager who has failed to
take all reasonable steps to secure compliance.
52
Duty of the Regulator to issue scheme return notices
(1)
The Regulator must issue scheme return notices in accordance with this section
25
requiring scheme returns to be provided in respect of registrable schemes.
(2)
In respect of each registrable scheme, the Regulator—
(a)
must issue the first scheme return notice in accordance with subsection
(3), and
(b)
must issue subsequent scheme return notices in accordance with
30
subsection (4).
(3)
The return date specified in a scheme return notice issued in respect of a
scheme under subsection (2)(a)—
(a)
must fall within the period of three years beginning with—
(i)
the date on which the Regulator receives a notice under section
35
51(2)(a) in respect of the scheme, or
(ii)
if earlier, the date on which the Regulator first becomes aware
that the scheme is a registrable scheme, and
(b)
if the trustees or managers have complied with paragraph (b) of section
51(2), must fall after the end of the period of one year beginning with
40
the date on which they provided the information required by that
paragraph to the Regulator.
(4)
The return date specified in a scheme return notice issued in respect of a
scheme under subsection (2)(b) must fall—
(a)
within the period of three years, but
45

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Part 1 — The Pensions Regulator
37

(b)
after the end of the period of one year,

beginning with the return date specified in the previous scheme return notice
issued in respect of the scheme.
53
Duty of trustees or managers to provide scheme return
(1)
The trustees or managers of a registrable scheme in respect of which a scheme
5
return notice is issued must, on or before the return date, provide a scheme
return to the Regulator.
(2)
If a scheme return in respect of a scheme is not provided in compliance with
subsection (1), section 10 of the Pensions Act 1995 (c. 26) (civil penalties)
applies to any trustee or manager of the scheme who has failed to take all
10
reasonable steps to secure compliance.
54
Scheme returns: supplementary
(1)
This section has effect for the purposes of sections 52 and 53.
(2)
In those sections and this section, in relation to a scheme return notice—

“return date” means the date specified under subsection (3)(b) in the
15
scheme return notice;

“scheme return” means a document in the form (if any) specified in the
scheme return notice, containing the information required by the
notice.
(3)
A scheme return notice must specify—
20
(a)
the descriptions of information required by it, and
(b)
the return date,

and may specify the form in which that information is to be provided.
(4)
A scheme return notice in respect of a registrable scheme—
(a)
must require all registrable information in relation to the scheme, and
25
(b)
may require other information which the Regulator reasonably
requires for the purposes of the exercise of its functions in relation to
the scheme.
(5)
The return date specified in a scheme return notice must fall after the end of the
period of 28 days beginning with the date on which the notice is issued.
30
(6)
A scheme return notice must be in writing and is treated as issued in respect of
a registrable scheme when it is sent to the trustees or managers of the scheme.
Register of prohibited trustees
55
Register of prohibited trustees
(1)
The Regulator must keep in such manner as it thinks fit a register of all persons
35
who are prohibited under section 3 of the Pensions Act 1995 (“the prohibition
register”).
(2)
Arrangements made by the Regulator for the prohibition register must secure
that the contents of the register are not disclosed or otherwise made available
to members of the public except in accordance with section 56.
40

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Part 1 — The Pensions Regulator
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(3)
Nothing in subsection (2) requires the Regulator to exclude any matter from a
report published under section 78 (reports of Regulator’s consideration of
cases).
56
Accessibility of register of prohibited trustees
(1)
The Regulator must make arrangements to secure that the prohibition register
5
is open, during its normal working hours, for inspection in person and without
notice at—
(a)
the principal office used by it for the carrying out of its functions, and
(b)
such other of its offices (if any) as it considers to be places where it
would be reasonable for a copy of the register to be kept open for
10
inspection.
(2)
If a request is made to the Regulator—
(a)
to state whether a particular person identified in the request is a person
appearing in the prohibition register as prohibited in respect of an
occupational trust scheme specified in the request,
15
(b)
to state whether a particular person so identified is a person appearing
in that register as prohibited in respect of a particular description of
occupational trust schemes so specified, or
(c)
to state whether a particular person so identified is a person appearing
in that register as prohibited in respect of all occupational trust
20
schemes,

the Regulator must promptly comply with the request in such manner as it
considers reasonable.
(3)
The Regulator may, in such manner as it considers appropriate, publish a
summary of the prohibition register if (subject to subsections (6) to (8)) the
25
summary—
(a)
contains all the information described in subsection (4),
(b)
arranges that information in the manner described in subsection (5),
(c)
does not (except by identifying a person as prohibited in respect of all
occupational trust schemes, in respect of a particular description of
30
such schemes or in respect of a particular such scheme) identify any of
the schemes in respect of which persons named in the summary are
prohibited, and
(d)
does not disclose any other information contained in the register.
(4)
That information is—
35
(a)
the full names and titles, so far as the Regulator has a record of them, of
all the persons appearing in the register as persons who are prohibited,
(b)
the dates of birth of such of those persons as are persons whose dates
of birth are matters of which the Regulator has a record, and
(c)
in the case of each person whose name is included in the published
40
summary, whether that person appears in the register—
(i)
as prohibited in respect of only one occupational trust scheme,
(ii)
as prohibited in respect of one or more particular descriptions
of such schemes, but not in respect of all such schemes, or
(iii)
as prohibited in respect of all such schemes.
45
(5)
For the purposes of paragraph (c) of subsection (4), the information in the
published register must be arranged in three separate lists, one for each of the
descriptions of prohibition specified in the sub-paragraphs of that paragraph.

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Part 1 — The Pensions Regulator
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(6)
The Regulator must ensure, in the case of any published summary, that a
person is not identified in the summary as a prohibited person if it appears to
the Regulator that the determination by virtue of which that person appears in
the register—
(a)
is the subject of any pending reference, review, appeal or legal
5
proceedings which could result in that person’s removal from the
register, or
(b)
is a determination which might still become the subject of any such
reference, review, appeal or proceedings.
(7)
The Regulator must ensure, in the case of any published summary, that the
10
particulars relating to a person do not appear in a particular list mentioned in
subsection (5) if it appears to the Regulator that a determination by virtue of
which that person’s particulars would appear in that list—
(a)
is the subject of any pending reference, review, appeal or legal
proceedings which could result in such a revocation or other
15
overturning of a prohibition of that person as would require his
particulars to appear in a different list, or
(b)
is a determination which might still become the subject of any such
reference, review, appeal or proceedings.
(8)
Where subsection (7) prevents a person’s particulars from being included in a
20
particular list in the published summary, they must be included, instead, in the
list (if any) in which they would have been included if the prohibition to which
the reference, review, appeal or proceedings relate or might relate had already
been revoked or otherwise overturned.
(9)
For the purposes of this section a determination is one which might still
25
become the subject of a reference, review, appeal or proceedings if, and only if,
in the case of that determination—
(a)
the time for the making of an application for a review or reference, or
for the bringing of an appeal or other proceedings, has not expired, and
(b)
there is a reasonable likelihood that such an application might yet be
30
made, or that such an appeal or such proceedings might yet be brought.
(10)
In this section—

“name”, in relation to a person any of whose names is recorded by the
Regulator as an initial, means that initial;

“occupational trust scheme” means an occupational pension scheme
35
established under a trust.
Collecting information relevant to the Board of the Pension Protection Fund
57
Information relevant to the Board
The Regulator may collect any information which appears to it to be relevant
to the exercise of the functions of the Board of the Pension Protection Fund.
40
58
Duty to notify the Regulator of certain events
(1)
Except where the Regulator otherwise directs, the appropriate person must
give notice of any notifiable event to the Regulator.
(2)
In subsection (1) “notifiable event” means—

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Part 1 — The Pensions Regulator
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(a)
a prescribed event in respect of an eligible scheme, or
(b)
a prescribed event in respect of the employer in relation to an eligible
scheme.
(3)
For the purposes of subsection (1)—
(a)
in the case of an event within subsection (2)(a), each of the following is
5
“the appropriate person”—
(i)
the trustees or managers of the scheme,
(ii)
a person of a prescribed description, and
(b)
in relation to an event within subsection (2)(b), each of the following is
“the appropriate person”—
10
(i)
the employer in relation to the scheme,
(ii)
a person of a prescribed description.
(4)
A notice under subsection (1)—
(a)
must be in writing, and
(b)
subject to subsection (5), must be given as soon as reasonably
15
practicable after the person giving it becomes aware of the notifiable
event.
(5)
Regulations may require a notice under subsection (1) to be given before the
beginning of the prescribed period ending with the notifiable event in
question.
20
(6)
No duty to which a person is subject is to be regarded as contravened merely
because of any information or opinion contained in a notice under this section.

This is subject to section 268 (protected items).
(7)
Where the trustees or managers of a scheme fail to comply with an obligation
imposed on them by subsection (1), section 10 of the Pensions Act 1995 (c. 26)
25
(civil penalties) applies in relation to any trustee or manager who has failed to
take all reasonable steps to secure compliance with that subsection.
(8)
That section also applies to any other person who, without reasonable excuse,
fails to comply with an obligation imposed on him by subsection (1).
(9)
In this section “eligible scheme” has the same meaning as in Part 2 (see section
30
113).
Reporting breaches of the law
59
Duty to report breaches of the law
(1)
Subsection (2) imposes a reporting requirement on the following persons—
(a)
a trustee or manager of an occupational or personal pension scheme;
35
(b)
a person who is otherwise involved in the administration of such a
scheme;
(c)
the employer in relation to an occupational pension scheme;
(d)
a professional adviser in relation to such a scheme;
(e)
a person who is otherwise involved in advising the trustees or
40
managers of an occupational or personal pension scheme in relation to
the scheme.
(2)
Where the person has reasonable cause to believe that—

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Part 1 — The Pensions Regulator
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(a)
a duty which is relevant to the administration of the scheme in
question, and is imposed by or by virtue of an enactment or rule of law,
has not been or is not being complied with, and
(b)
the failure to comply is likely to be of material significance to the
Regulator in the exercise of any of its functions,
5

he must give a written report of the matter to the Regulator as soon as
reasonably practicable.
(3)
No duty to which a person is subject is to be regarded as contravened merely
because of any information or opinion contained in a written report under this
section.
10

This is subject to section 268 (protected items).
(4)
Section 10 of the Pensions Act 1995 (c. 26) (civil penalties) applies to any person
who, without reasonable excuse, fails to comply with an obligation imposed on
him by this section.
Reports by skilled persons
15
60
Reports by skilled persons
(1)
The Regulator may issue a notice (a “report notice”) to—
(a)
the trustees or managers of a work-based pension scheme,
(b)
any employer in relation to such a scheme, or
(c)
any person who is otherwise involved in the administration of such a
20
scheme,

requiring them or, as the case may be, him to provide the Regulator with a
report on one or more specified matters which are relevant to the exercise of
any of the Regulator’s functions.
(2)
A report notice must require the person appointed to make the report to be a
25
person—
(a)
nominated or approved by the Regulator, and
(b)
appearing to the Regulator to have the skills necessary to make a report
on the matter or matters concerned.
(3)
A report notice may require the report to be provided to the Regulator—
30
(a)
in a specified form;
(b)
before a specified date.
(4)
The costs of providing a report in accordance with a report notice must be met
by the person to whom the notice is issued (“the notified person”).
(5)
But a report notice may require a specified person (other than the Regulator) to
35
reimburse to the notified person the whole or any part of the costs of providing
the report.
(6)
Where, by virtue of subsection (5), an amount is required to be reimbursed by
a specified person to the notified person, that amount is to be treated as a debt
due from the specified person to the notified person.
40
(7)
If the trustees or managers of a work-based pension scheme fail to comply with
a report notice issued to them, section 10 of the Pensions Act 1995 (civil
penalties) applies to any trustee or manager who has failed to take all
reasonable steps to secure compliance.