The Occupational Pension Schemes (Requirement to obtain Audited Accounts and a Statement from the Auditor) Regulations (Northern Ireland) 1997

Requirement of trustees or managers to obtain documents

2.—(1) Subject to paragraph (2), where the requirement of Article 47(1)(a) of the Order (requirement to appoint an individual or a firm as auditor) applies, the trustees or managers of a scheme shall obtain not more than 7 months after the end of each scheme year which ends on or after 6th April 1997—

(a)accounts, prepared in accordance with regulation 3, audited by the auditor;

(b)the auditor’s statement, prepared in accordance with regulation 4, about contributions under the scheme.

(2) The requirement to obtain accounts in accordance with paragraph (1)(a) shall not apply to the trustees or managers of an ear-marked scheme.

(3) Where the trustees or managers fail to obtain accounts audited by the auditor or the auditor’s statement in accordance with paragraph (1), and there is no reasonable excuse for the failure to do so, they are guilty of an offence and liable on summary conviction to a fine not exceeding level 5 on the standard scale.