The Occupational Pension Schemes (Preservation of Benefit) Regulations 1991 No. 167

[F1 Offence and penalties E+W+S

27B.   Where a person fails, without reasonable excuse, to comply with any requirement imposed on him by regulation 12(4B)(requirement to provide information regarding a transfer of accrued rights without consent) or 27A, the [F2 Regulatory Authority may by notice in writing] require him to pay, within 28 days, a penalty which—

(a) in case of an individual, shall not exceed £1, 000; and

(b) in any other case, shall not exceed £10,000.]

Textual Amendments

F1 Reg. 27A and Reg. 27B inserted (6.4.97) by S.I. 1996/2131, reg. 2(18)

F2 Words in reg. 27B substituted (6.4.2009) by Occupational, Personal and Stakeholder Pensions (Miscellaneous Amendments) Regulations 2009 (S.I. 2009/615), regs. 1(2), 2(2)