The Transport Act 2000 (Civil Aviation Authority Pension Scheme) Order 2001

10. AUDITOR AND ACCOUNTS

10.1  The Trustees shall appoint as auditor to the Scheme an individual or a firm who or which satisfies the requirements of the Pensions Act 1995 in relation to auditors of occupational pension schemes. Any such appointment shall be on such terms as to remuneration and otherwise as shall be agreed between the Trustees and such auditor subject always to the provisions of section 47 of the Pensions Act 1995.

10.2  The Trustees may remove and replace such auditor as they deem necessary subject always to the provisions of section 47 of the Pensions Act 1995.

10.3  The Trustees shall keep such accounts, entries, registers and records as are necessary for the proper working of the Scheme and each Section and shall cause the Scheme accounts to be audited annually by the auditor appointed under Clause 10.1.

The auditor shall have access to all books, papers, vouchers, accounts and documents connected with the Scheme and each Section and shall certify in writing the result of each audit.

10.4  The Trustees shall arrange for the production of an annual report on the Scheme, such report to be divided into separate schedules for each Section. Each schedule shall incorporate the accounts and an actuarial statement based on the most recent investigation of the relevant Section referred to in Clause 12.1 and contain such other information as is required to satisfy the provisions of the Pension Schemes Act 1993(1) and the Pensions Act 1995.

10.5  A copy of such annual report or the relevant schedules contained or incorporated in such annual report and a copy of the actuarial report referred to in Clause 12.1 shall be made available:

(a) upon request, if applicable, to those persons or bodies who have a right to inspect or receive a copy of it in accordance with the Pension Schemes Act 1993 and the Pensions Act 1995, the Trustees being entitled to make such charge (if any) as is permitted under the Disclosure Regulations(2);

(b) to the Board of Inland Revenue and the Department of Social Security if such is necessary respectively for the continued recognition of the Scheme as an exempt approved scheme for the purposes of the Taxes Act and the continuance of any contracting-out certificate issued in connection with the Scheme.

A copy of such annual report shall be given to the Sponsoring Section Employers and to the other Employers in each Section.

10.6  The Trustees shall, in addition, comply with the Disclosure Regulations relating to, among other things, the provision of the following information, (and subsequent changes thereto), the Trustees being entitled to make such charge (if any) as is permitted under the Disclosure Regulations:

(a) details of this Deed and the Rules;

(b) basic information about the Scheme and each Section;

(c) details of an individual’s benefit under each Section when it becomes payable;

(d) information about Member’s benefits under each Section;

(e) rights and options in respect of death benefits under each Section;

(f) rights and options available to persons who leave any Section;

(g) details of transfer values and cash equivalents in respect of each Section;

(h) information to be supplied in the event of the Scheme or a Section being wound up.

10.7  The Trustees shall provide such information to the Pensions Ombudsman, the Registrar of Occupational and Personal Pension Schemes, the Occupational Pensions Regulatory Authority and the Pensions Compensation Board as may be required in accordance with the provisions of the Pension Schemes Act 1993 and the Pensions Act 1995.

(1)

1993 c. 48.

(2)

S.I. 1996/1655, amended by S.I. 1997/786, 1997/819, 1997/3038.