Pension Schemes Act 1993

177 General financial arrangements

(1) Subject to the following provisions of this section, all expenses incurred by the Secretary of State under this Act shall be paid out of money provided by Parliament except so far as they may be required by any enactment to be paid or borne in some other way.

(2) There shall be paid out of the National Insurance Fund—

(a) minimum contributions paid by the Secretary of State under section 43;

(b) payments by him under section 124.

(3) Subject to subsection (4), there shall be paid out of the National Insurance Fund into the Consolidated Fund—

(a) sums equal to the amount of any expenses incurred by the Secretary of State (or by persons acting on his behalf) in exercising his functions under Chapter II of Part VII and section 157;

(b) such sums as the Secretary of State may estimate to be the amount of the administrative expenses of the Secretary of State or any government department in carrying into effect the remaining provisions of this Act, other than—

(i) sections 2 to 5, Chapter I of Part IV and Part VIII so far as it applies for the purposes of that Chapter, sections 136 to 138, 139(2) and (3), 140, 141, 142(1) to (4), 143, 153(2), 158(1) to (5), 162, 163, 172, 173 and 176 and Schedule 1;

(ii) sections 7, 9, 26 to 34, 38 and 50 (so far as they relate to personal pension schemes), section 54, sections 55 to 64 (so far as they relate to personal pension protected rights premiums), section 111 (and Part VIII and section 153 so far as they have effect for the purposes of section 111), sections 117, 154 and 155 and section 159 (so far as it relates to protected rights payments) and sections 160 and 166.

(4) The sums payable under subsection (3)(b)—

(a) shall be estimated in accordance with any directions given by the Treasury and (except in the case of functions relating to minimum contributions) shall exclude such categories of expenses as the Treasury may direct, or any enactment may require, to be so excluded; and

(b) shall be payable at such times and in such manner as the Treasury may direct.

(5) There shall be paid into the Consolidated Fund—

(a) subject to subsection (6), so far as it relates to payments out of money provided by Parliament, any sum recovered by the Secretary of State under or by virtue of the provisions within subsection (3)(b)(ii); and

(b) all fees paid to the Registrar.

(6) So far as any such sum relates to a payment out of the National Insurance Fund, it shall be paid into that Fund.

(7) There shall also be paid into the National Insurance Fund—

(a) sums recovered under section 43(5) or (6);

(b) any personal pension protected rights premium;

(c) any sum recovered by the Secretary of State in exercising any right or pursuing any remedy which is his by virtue of section 127; and

(d) any sums received by him by way of such payments as are mentioned in paragraph 5(4) of Schedule 2.