Modifications etc. (not altering text)
C1Pt. 2 modified (8.3.2005 for specified purposes, 6.4.2005 in so far as not already in force) by The Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005 (S.I. 2005/277), regs. 1(1), 2-11
C2Pt. 2 modified in part (9.3.2005 for specified purposes, 1.4.2005 for specified purposes, 6.4.2005 in so far as not already in force (except ch. 4)) by The Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations 2005 (S.I. 2005/441), regs. 1, 2-60, 71, 72
(1)Regulations may provide for the imposition of a levy (“administration levy”) in respect of eligible schemes (see section 126) for the purpose of meeting—
(a)expenditure of the Secretary of State relating to the establishment of the Board;
(b)any expenditure of the Secretary of State under section 116.
(2)An administration levy is payable to the Secretary of State by or on behalf of—
(a)the trustees or managers of an eligible scheme, or
(b)any other prescribed person.
(3)An administration levy is payable at the prescribed rate and at prescribed times.
(4)Before prescribing a rate under subsection (3), the Secretary of State must consult the Board.
(5)An amount payable by a person on account of an administration levy is a debt due from him to the Secretary of State.
(6)An amount so payable is recoverable by the Secretary of State or, if he so determines, by the Regulator on his behalf.
(7)Without prejudice to the generality of subsections (1), (5) and (6), regulations under this section may include provision relating to—
(a)the collection and recovery of amounts payable by way of levy under this section;
(b)the circumstances in which any such amount may be waived.
Commencement Information
I1S. 117(1)(3)(7)(a) 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
I2S. 117(4) in force at 10.2.2005 by S.I. 2005/275, art. 2(4), Sch. Pt. 4