PART 3The Pensions Regulator
Gathering information
111Inspection of premises
1
Section 73 of the Pensions Act 2004 (inspection of premises) is amended as follows.
2
In subsection (2)—
a
after paragraph (da) insert—
db
the Pension Schemes Act 2017;
dc
Part 1 of the Pension Schemes Act 2021;
b
in paragraph (e), for “(da)” substitute “(dc)”.
3
After subsection (2) insert—
2A
An inspector may, for the purposes of investigating whether the Regulator has grounds in the case of an occupational pension scheme for issuing—
a
a contribution notice under section 38 (contribution notices where avoidance of employer debt),
b
a financial support direction under section 43 (financial support directions),
c
a contribution notice under section 47 (contribution notices where non-compliance with financial support direction),
d
a restoration order under section 52 (restoration orders where transactions at an undervalue),
e
a contribution notice under section 55 (contribution notice where failure to comply with restoration order), or
f
a notice, direction or order under any corresponding provision in force in Northern Ireland,
at any reasonable time enter premises liable to inspection.
4
After subsection (5) insert—
5A
An inspector may, for the purposes of investigating whether the relevant provisions are being, or have been, complied with in the case of a scheme, at any reasonable time enter premises liable to inspection.
5B
In subsection (5A), “the relevant provisions” means provisions contained in or made by virtue of—
a
such provisions of the pensions legislation as may be prescribed;
b
any provisions in force in Northern Ireland corresponding to the provisions so prescribed.
5
In subsection (6) (premises liable to inspection)—
a
in paragraph (b), omit the “or” at the end;
b
after paragraph (c) insert—
d
documents relevant to the administration of the business of the employer in relation to the scheme are being kept there,
e
the administration of the business of the employer in relation to the scheme, or work connected with that administration, is being carried out there, or
f
in the case of an occupational pension scheme other than a money purchase scheme, a prescribed scheme or a scheme of a prescribed description, documents relevant to a change in the ownership of the employer or of a significant asset of the employer are being kept there.
6
After subsection (6) insert—
6A
6B
In this section a reference to an employer in relation to an occupational pension scheme includes a reference to a person who has been the employer in relation to the scheme.
7
In subsection (7), for “this section,” substitute
this section—
“the pensions legislation” means any enactment contained in or made by virtue of—
- a
the Pension Schemes Act 1993,
- b
Part 1 or section 33 or 45 of the Welfare Reform and Pensions Act 1999,
- c
this Act,
- d
Schedule 18 to the Pensions Act 2014, or
- e
section 48 or 49 of the Pension Schemes Act 2015;