- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (a wnaed Fel)
The Occupational and Personal Pension Schemes (Levy) Regulations 1997, Section 2 is up to date with all changes known to be in force on or before 15 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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2.—(1) [F1Subject to paragraph (4A), for] the purpose of meeting expenditure under section 6, Part X and section 174 of the 1993 Act M1 and of the Regulatory Authority[F2in connection with their functions in relation to occupational pension schemes], the trustees of every registrable occupational pension scheme shall be liable to pay a levy to the Secretary of State.
(2) [F3Subject to paragraph (4A), for] the purpose of meeting expenditure under section 6, Part X and section 174 of the 1993 Act[F4and of the Regulatory Authority in connection with their functions in relation to personal pension schemes], the trustees of every registrable personal pension scheme shall be liable to pay a levy to the Secretary of State.
(3) In these Regulations, the levy payable to the Secretary of State by a registrable scheme under paragraph (1) or (2) above shall be referred to as “the general levy".
(4) [F5Subject to paragraph (4A), the] general levy shall be payable in respect of each registration year.
[F6(4A) No levy shall be payable under paragraph (1) or (2) above in relation to a scheme in respect of any registration year—
(a)in which that scheme becomes a registrable scheme; or
(b)which immediately follows a registration year in which that scheme became a registrable scheme.]
(5) Subject to regulation 8, where, during a registration year, a scheme[F7to which paragraph (1) or (2) above applies]—
F8(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)ceases to be a registrable scheme; or
(c)is wound up,
the general levy shall nevertheless be payable in full for that year.
Textual Amendments
F1Words inserted into reg. 2(1) by reg. 2(3)(a) of S.I. 1998/600 as from 1.4.98
F2Words inserted into reg. 2(1) by reg. 2(a) of S.I. 2000/542 as from 1.4.00.
F3Words inserted into reg. 2(2) by reg. 2(3)(a) of S.I. 1998/600 as from 1.4.98.
F4Words inserted into reg. 2(2) by reg. 2(a) of S.I. 2000/542 as from 1.4.00.
F5Words in reg. 2(4) substituted by reg. 2(3)(b) of S.I. 1998/ 600 as from 1.4.98.
F6Reg. 2(4A) inserted by reg. 2(3)(c) of S.I. 1998/ 600 as from 1.4.98.
F7Words inserted into reg. 2(5) by reg. 2(3)(d)(i) of S.I. 1998/600 as from 1.4.98.
F8Reg. 2(5)(a) omitted by reg. 2(3)(d)(ii) of S.I. 1998/600 as from 1.4.98.
Marginal Citations
M1Section 174 of the Pension Schemes Act 1993 is amended by section 151 of and paragraph 73 of Schedule 5 to the Pensions Act 1995.
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