The Pensions (Northern Ireland) Order 2005

[F1 Compliance N.I.

215G.— (1) Regulations may make provision with a view to securing that the trustees or managers of a relevant occupational pension scheme comply with a provision of regulations under Article 215D.

(2) The regulations may, among other things—

(a) provide for the Regulator to issue a notice (a “compliance notice”) to a person with a view to ensuring the person’s compliance with a provision of regulations under Article 215D;

(b) provide for the Regulator to issue a notice (a “third party compliance notice”) to a person with a view to ensuring another person’s compliance with a provision of the regulations;

(c) provide for the Regulator to issue a notice (a “penalty notice”) imposing a penalty on a person where the Regulator is of the opinion that the person—

(i) has failed to comply with a compliance notice or third party compliance notice, or

(ii) has contravened a provision of regulations under Article 215D;

(d) provide for the making of a reference to the First-tier Tribunal or Upper Tribunal in respect of the issue of a penalty notice or the amount of a penalty;

(e) confer other functions on the Regulator.

(3) The regulations may make provision for determining the amount, or the maximum amount, of a penalty in respect of a failure or contravention.

(4) But the amount of a penalty imposed under the regulations in respect of a failure or contravention must not exceed—

(a) £5,000, in the case of an individual, and

(b) £50,000, in any other case.

(5) In this Article “relevant occupational pension scheme” has the meaning given by Article 215F.]

F1 Arts. 215D-215G inserted (11.2.2021 for specified purposes, 31.10.2022 in so far as not already in operation) by Pension Schemes Act 2021 (c. 1), s. 131(2)(c)(3)(a), Sch. 9 para. 3; S.R. 2022/291, art. 2