Pensions Act 2004

Pensions Act 2004

2004 CHAPTER 35

Commentary on Sections

Part 2 – the Board of the Pension Protection Fund

Chapter 5 – Gathering Information

Section 192: Entry of premises

700. This section allows the Board to appoint a person who may enter scheme premises in order to gather information that is relevant to the functions of the Board. This provision is not intended to be used in the same way as the Regulator’s inspection of premises powers. Instead, it is envisaged that it will be routine for an appointed person to visit scheme premises during an assessment period – normally with prior appointment. While on the premises, the appointed persons may:

• make such examination or inquiry as may be necessary;

• require persons to produce or secure the production of any required document or any other document for inspection;

• make copies of any such document;

• take possession of any document or take other steps to prevent interference with it;

• require information stored in electronic form to be made accessible;

• interview persons whom he has reasonable cause to believe to be able to give relevant information.

701. Subsection (2) states that “scheme premises” to which the powers in subsection (1) relate are those being used for the business of, or for the storage of information relevant to, the employer, or the employer’s insolvency practitioner, or used to keep documents relevant to the administration of the scheme. Private dwelling which are not used for the purposes of trade or business are not included.

702. Subsection (3) requires an appointed person to produce his certificate of appointment if asked for it when seeking to enter premises, while subsection (4) allows the appointed person to be accompanied by such persons as he considers appropriate.

703. Subsections (5) and (6) set out that documents which are seized under this section may be kept by the Board for the retention period of 12 months. Where appropriate, the Board may extend that period by a further period of up to 12 months on an ongoing basis.

704. Subsection (7) defines “appointed person” as a person authorised by the Board to enter premises in order to gather information in relation to the scheme. In practice, this will often be an actuary or other professional who will be appointed to gather information in order to carry out a valuation during the assessment period.