The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2010

Amendment of the FAS Information and Payments Regulations

19.—(1) The FAS Information and Payments Regulations are amended in accordance with this regulation.

(2) At the beginning of paragraph 1(2) of Schedule 1 (information to be provided by appropriate persons) insert “Subject to sub-paragraph (2A),”.

(3) In the table in paragraph 1(2) of Schedule 1—

(a) in the first column of the seventh to eleventh items insert the words “The scheme manager”;

(b) after the eleventh item insert a twelfth item containing—

(i) in the first column, the words “The scheme manager”;

(ii) in the second column, the words—

“Details of—

(a) the assets of the qualifying pension scheme (including any assets representing the value of any rights in respect of money purchase benefits under scheme rules) including the value of those assets;

(b) the amount of any debt due from the employer under section 75 of the Pensions Act 1995 or Article 75 of the Pensions (Northern Ireland) Order 1995;

(c) the amount of any significant debt due to the scheme which is not a debt within paragraph (b);

(d) any amounts due to the trustees or managers of the scheme following the issue of a contribution notice under section 38, 47 or 55 of the Act or Article 34, 43 or 51 of the Pensions (Northern Ireland) Order 2005;

(e) any financial support direction issued under section 43 of the Act or Article 39 of the Pensions (Northern Ireland) Order 2005 in relation to the scheme;

(f) any restoration order made under section 52 of the Act or Article 48 of the Pensions (Northern Ireland) Order 2005 in respect of a transaction involving assets of the scheme; and

(g) the amount of any contributions expected to be made towards the scheme and the person from whom the contributions are expected.”;

(iii) in the third column, the words—

“The period of 28 days beginning on the later of—

(a) the day on which the Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2010 came into force;

(b) the notification date;

(c) the day on which the appropriate person became aware of any debt referred to in paragraph (c) in the second column or the amount of any contributions referred to in paragraph (g) in the second column,

or such longer period as the scheme manager may determine for the provision of that information.”;

(4) After paragraph 1(2) of Schedule 1 insert—

“(2A) Where the scheme manager is satisfied that some or all of the information to be provided in accordance with the table in sub-paragraph (2) is not relevant to the exercise of its functions, it may determine that any such information need not be provided.”.

(5) In the third column of the first item in the table in paragraph 1 of Schedule 2 for “6 months” substitute “2 months”.