Pensions Act 2004

Funding U.K.

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

Commencement Information

I1 Sch. 1 para. 24 in force at 17.12.2004 by S.I. 2004/3350, art. 2, Sch.

Valid from 06/04/2005

25 (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— U.K.

(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.

26 (1) Section 175 of the Pension Schemes Act 1993 (c. 48) (levies towards certain expenditure) is amended as follows. E+W+S

(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”.

Commencement Information

I2 Sch. 1 para. 26 in force at 10.2.2005 for specified purposes and at 1.4.2005 in so far as not already in force by S.I. 2005/275, art. 2(2), Sch. Pt. 2 (with transitional provisions and savings in S.I. 2005/695, arts. 5(8), 6, Schs. 2, 3 (as amended by S.I. 2005/1108, art. 3(b))