C1PART IIITHE BOARD OF THE PENSION PROTECTION FUND
CHAPTER 1THE BOARD
Financial matters
Administration levyI1103
1
Regulations may provide for the imposition of a levy ( “administration levy”) in respect of eligible schemes (see Article 110) for the purpose of meeting—
a
expenditure relating to the establishment of the Board;
b
any expenditure of the Department under Article 102 or of the Secretary of State under section 116 of the Pensions Act 2004 (c. 35).
2
An administration levy is payable to the Department by or on behalf of—
a
the trustees or managers of an eligible scheme, or
b
any other prescribed person.
3
An administration levy is payable at the prescribed rate and at prescribed times.
4
Before prescribing a rate under paragraph (3), the Department must consult the Board.
5
An amount payable by a person on account of an administration levy is a debt due from him to the Department.
6
An amount so payable is recoverable by the Department or, if the Department so determines, by the Regulator on its behalf.
7
Without prejudice to the generality of paragraphs (1), (5) and (6), regulations under this Article may include provision relating to—
a
the collection and recovery of amounts payable by way of levy under this Article;
b
the circumstances in which any such amount may be waived.
Pt. III (arts. 101-199) applied by S.R. 2005/55, reg. 2A (as inserted (8.3.2010) by Pension Protection Fund and Occupational Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 2010 (S.R. 2010/32), reg. 2(4))