(1)The trustees or managers of an occupational pension scheme must not accept any contribution to the scheme from a European employer unless all the following conditions are met.
(2)Condition A is that the trustees or managers of the scheme are authorised by the Regulator under section 288.
(3)Condition B is that the trustees or managers of the scheme are approved by the Regulator under section 289 in relation to the European employer.
(4)Condition C is that either—
(a)the period of two months beginning with the date on which the Regulator notified the trustees or managers of the scheme under section 289(2)(a)(ii) has expired, or
(b)before the end of that period, the trustees or managers have received information forwarded to them by the Regulator in accordance with section 290(1).
(5)If the trustees or managers of a scheme fail to comply with subsection (1), section 10 of the Pensions Act 1995 (c. 26) (civil penalties) applies to any trustee or manager who has failed to take all reasonable steps to secure compliance.
(6)In this Part—
“European employer” has the prescribed meaning;
[F1“host EEA state”], in relation to a European employer, means [F2an EEA state] determined in accordance with regulations.
Textual Amendments
F1Words in s. 287(6) substituted (26.11.2007) by The Occupational Pension Schemes (EEA States) Regulations 2007 (S.I. 2007/3014), regs. 1, 4(c)(i)
F2Words in s. 287(6) substituted (26.11.2007) by The Occupational Pension Schemes (EEA States) Regulations 2007 (S.I. 2007/3014), regs. 1, 4(c)(ii)
Commencement Information
I1S. 287 in force at 4.12.2005 for specified purposes and 30.12.2005 for specified purposes by S.I. 2005/3331, art. 2(1), Sch. Pt. 1 (with art. 3)