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Pension Schemes Act 2021

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Changes over time for: Paragraph 12

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12N.I.After Article 75 (offences of providing false or misleading information) insert—

Financial penalty for providing false or misleading information to RegulatorN.I.

75A(1)Article 83A (financial penalties) applies to a person who has knowingly or recklessly provided the Regulator with information which is false or misleading in a material particular, if the information was provided to the Regulator in the circumstances mentioned in paragraph (2)(a), (b) or (c).

(2)The circumstances referred to in paragraph (1) are—

(a)that the information was provided in purported compliance with a requirement under—

(i)Article 57 (the register: duties of trustees or managers),

(ii)Article 59 (duty of trustees or managers to provide scheme return),

(iii)Article 64 (duty to notify the Regulator of certain events),

(iv)Article 64A (duty to give notices and statements to the Regulator in respect of certain events),

(v)Article 67 (provision of information),

(vi)Article 67A (interviews),

(vii)Article 70 (inspection of premises: powers of inspectors), or

(viii)regulations under section 11 of the Pensions (No. 2) Act (Northern Ireland) 2008 (information about employers' duties to be given to the Regulator);

(b)that the information is provided in applying for registration of a pension scheme under Article 4 of the 1999 Order (registration of stakeholder pension schemes);

(c)that the information was provided otherwise than as mentioned in sub-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—

(i)the 1995 Order,

(ii)this Order,

(iii)the Pensions (No. 2) Act (Northern Ireland) 2008,

(iv)Schedule 18 to the Pensions Act (Northern Ireland) 2015, or

(v)Part 2 of the Pension Schemes Act 2021.

Commencement Information

I1Sch. 8 para. 12 in force at 1.10.2021 for specified purposes by S.R. 2021/271, art. 2(3)(g) (with art. 6)

I2Sch. 8 para. 12 in force at 1.8.2022 for specified purposes by S.R. 2022/197, art. 3(c)

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