SCHEDULES

SCHEDULE 1The Pensions Regulator

Part 5Funding and accounts

Funding

I124

The Secretary of State may pay the Regulator out of money provided by Parliament such sums as he may determine towards its expenses.

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1

The Secretary of State may make regulations authorising the Regulator to charge fees to meet the costs incurred by the Regulator in connection with applications made for—

a

the modification of an occupational pension scheme under section 69 of the Pensions Act 1995 (c. 26) or under any corresponding provision in force in Northern Ireland, or

b

the issuing of a clearance statement under section 42 or 46 or under any corresponding provision in force in Northern Ireland.

2

Regulations under sub-paragraph (1) may prescribe, or authorise the Regulator to determine, the time at which any fee is due.

3

Any fee which is owed to the Regulator by virtue of regulations under this paragraph may be recovered as a debt due to the Regulator.

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1

Section 175 of the Pension Schemes Act 1993 (c. 48) (levies towards certain expenditure) is amended as follows.

2

In subsection (1) omit “or” at the end of paragraph (b) and for paragraph (c) substitute—

c

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),

3

In subsection (3), in paragraph (a), for the words from “any amounts paid” to the end of the paragraph substitute

—

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