- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (24/07/2014)
- Gwreiddiol (a wnaed Fel)
Point in time view as at 24/07/2014.
There are currently no known outstanding effects for the The Occupational Pension Schemes (Scheme Administration) Regulations 1996, Section 4.
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4.—(1) For the purposes of section 47(5)(b) of the 1995 Act the qualifications and experience or approval required for appointment as—
(a)the auditor, subject to paragraph (2), are—
(i)those specified in section 25 of the Companies Act 1989 M1; or
(ii)approval by the Secretary of State;
(b)the actuary are—
[F1(i)Fellowship of the Institute and Faculty of Actuaries; or]
(iii)approval by the Secretary of State.
(2) A person shall not be appointed as the auditor where—
(a)he is a member of the scheme M2;
(b)he is employed under a contract of service by the trustees or managers of the scheme;
(c)he is an employer in relation to the scheme; or
(d)[F2subject to paragraph (3),] he is, by virtue of section 27 of the Companies Act 1989, ineligible to audit the accounts of a company which is an employer in relation to the scheme.
[F3(3) Paragraph (2)(d) does not apply in relation to the accounts and auditor’s statement for a relevant scheme for a scheme year—
(a)in which, on the first day of that scheme year, the scheme has at least 500 participating employers; or
(b)which immediately precedes a scheme year in which sub-paragraph (a) is satisfied.
(4) In paragraph (3), “relevant scheme” means a trust scheme which applies to earners in employment under different employers.]
Textual Amendments
F1Regs. 4(1)(b)(i)(ii) substituted (6.4.2012) by The Pensions (Institute and Faculty of Actuaries and Consultation by Employers – Amendment) Regulations 2012 (S.I. 2012/692), regs. 1(2), 4
F2Words in reg. 4(2)(d) inserted (6.4.2014) by The Occupational Pension Schemes (Miscellaneous Amendments) Regulations 2014 (S.I. 2014/540), regs. 1, 2(2)(a)
F3Reg. 4(3)(4) inserted (6.4.2014) by The Occupational Pension Schemes (Miscellaneous Amendments) Regulations 2014 (S.I. 2014/540), regs. 1, 2(2)(b)
Modifications etc. (not altering text)
C1Reg. 4(1) applied (1.10.2000) by The Stakeholder Pension Schemes Regulations 2000 (S.I. 2000/1403), regs. 1(2), 32, Sch. 2
C2Reg. 4(2)(a)(b) applied (1.10.2000) by The Stakeholder Pension Schemes Regulations 2000 (S.I. 2000/1403), regs. 1(2), 32, Sch. 2
Marginal Citations
M2 See section 27 of the Pensions Act 1995 which provides that a trustee of a trust scheme, and any person connected with, or associate of such a trustee, is ineligible to act as auditor. See also regulation 7 of these Regulations.
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