Part XI General and miscellaneous provisions

Financial provisions

I1C1175F1Levies towards certain expenditure

F11

For the purpose of meeting expenditure—

a

under section 6,

b

under Part X and section 174, F2...

F3c

of the Regulatory Authority (including the establishment of the Authority under the Pensions Act 2004), or

d

of the Lord Chancellor in meeting the costs of the legal assistance scheme established by virtue of section 106 of the Pensions Act 2004 (legal assistance in connection with proceedings before the Pensions Regulator Tribunal),

regulations may make provision for imposing levies in respect of prescribed occupational or prescribed personal pension schemes.

2

Any levy imposed under subsection (1) is payable to the Secretary of State by or on behalf of—

a

the administrators of any prescribed public service pension scheme,

b

the trustees or managers of any other prescribed occupational or prescribed personal pension scheme, or

c

any other prescribed person,

at prescribed rates and at prescribed times.

3

Regulations made by virtue of subsection (1)—

a

in determining the amount of any levy in respect of the Regulatory Authority, must take account (among other things) of F4—

i

any amounts paid to the Secretary of State under section 168(4) of this Act or section 10 of the Pensions Act 1995 (civil penalties), and

ii

any fees paid to the Authority under paragraph 25 of Schedule 1 to the Pensions Act 2004 (fees for certain applications), and

b

in determining the amount of expenditure in respect of which any levy is to be imposed, may take one year with another and, accordingly, may have regard to expenditure estimated to be incurred in current or future periods and to actual expenditure incurred in previous periods (including periods ending before the coming into force of this subsection).

F7C14

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7C15

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7C16

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7C17

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F5C18

An amount payable by a person on account of a levy imposed under this section shall be a debt due from him to the Secretary of State, and an amount so payable shall be recoverable by the Secretary of State accordingly or, if the Secretary of State so determines, by the Regulatory Authority on his behalf.

C19

Without prejudice to the generality of F6subsection (1), regulations under this section may include provision relating to—

a

the collection and recovery of amounts payable by way of levy under this section, or

b

the circumstances in which any such amount may be waived.