The Occupational Pension Schemes (Scheme Administration) Regulations (Northern Ireland) 1997

Qualifications and experience or approval required for appointment as auditor or actuary

4.—(1) For the purposes of Article 47(5)(b) (specification of qualifications and experience, or approval, required for appointment as professional adviser) the qualifications and experience, or approval, required for appointment as—

(a) the auditor, subject to paragraph (2), are—

(i) those specified in Article 28 of the Companies (Northern Ireland) Order 1990(1); or

(ii) approval by the Department;

(b) the actuary are—

(i) Fellowship of the Institute of Actuaries;

(ii) Fellowship of the Faculty of Actuaries; or

(iii) approval by the Department.

(2) A person shall not be appointed as the auditor where—

(a) he is a member of the scheme(2);

(b) he is employed under a contract of service by the trustees or managers of the scheme;

(c) he is an employer in relation to the scheme; or

(d) he is, by virtue of Article 30 of the Companies (Northern Ireland) Order 1990, ineligible to audit the accounts of a company which is an employer in relation to the scheme.

(1)

S.I. 1990/593 (N.I. 5)

(2)

See Article 27 of the Pensions (Northern Ireland) Order 1995 which provides that a trustee of a trust scheme, and any person connected with, or an associate of, such a trustee, is ineligible to act as an auditor. See also regulation 7 of these Regulations