2015 No. 1518
The Registered Pension Schemes (Audited Accounts) (Specified Persons) (Amendment) Regulations 2015
Made
Laid before the House of Commons
Coming into force
Citation, commencement and effect1
1
These Regulations may be cited as the Registered Pension Schemes (Audited Accounts) (Specified Persons) (Amendment) Regulations 2015 and come into force on 1st September 2015.
2
These Regulations have effect from 6th April 2014.
Amendment of the Registered Pension Schemes (Audited Accounts) (Specified Persons) Regulations 20052
1
The Registered Pension Schemes (Audited Accounts) (Specified Persons) Regulations 20053 are amended as follows.
2
For regulation 3 (circumstances in which a person specified under regulation 2 is not to audit scheme accounts) substitute—
3
1
Notwithstanding regulation 2, a person shall not be a registered pension scheme’s auditor if he is—
a
a member of the scheme;
b
employed under a contract of service by the scheme administrator;
c
an employer in relation to the scheme; or
d
subject to paragraph (2), ineligible, by virtue of section 1214 of the Companies Act 20064, to audit the accounts of a company which is an employer in relation to the scheme.
2
Paragraph (1)(d) does not apply in relation to the accounts and auditor’s statement for a relevant scheme for a scheme year—
a
in which, on the first day of that scheme year, the scheme has at least 500 participating employers; or
b
which immediately precedes a scheme year in which sub-paragraph (a) is satisfied.
3
In paragraph (2)—
“relevant scheme” means a trust scheme which applies to earners in employment under different employers; and
“scheme year” means—
- a
a year specified for the purposes of the scheme in any document comprising the scheme or, if none, a period of 12 months commencing on 1st April or on such date as the trustees or managers select; or
- b
such other period (if any) exceeding 6 months but not exceeding 18 months as is selected by the trustees or managers in connection with—
- i
the commencement or termination of the scheme; or
- ii
a variation of the date on which the year or period referred to in sub-paragraph (a) is to commence.
(This note is not part of the Regulations)