Pensions Act 2004
| Jurisdiction | UK Non-devolved |
| Citation | 2004 c. 35 |
Pensions Act 2004
CHAPTER 35
CONTENTS
PART 1
THE PENSIONS REGULATOR
Establishment
1 The Pensions Regulator
2 Membership of the Regulator
3 Further provision about the Regulator
General provisions about functions
4 Regulator’s functions
5 Regulator’s objectives
6 Supplementary powers
7 Transfer of OPRA’s functions to the Regulator
Non-executive functions
8 Non-executive functions
The Determinations Panel
9 The Determinations Panel
10 Functions exercisable by the Determinations Panel
Annual report
11 Annual reports to Secretary of State
Provision of information, education and assistance
12 Provision of information, education and assistance
Pensions Act 2004 (c. 35)
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New powers in respect of occupational and personal pension schemes
13 Improvement notices
14 Third party notices
15 Injunctions and interdicts
16 Restitution
17 Power of the Regulator to recover unpaid contributions
18 Pension liberation: interpretation
19 Pension liberation: court’s power to order restitution
20 Pension liberation: restraining orders
21 Pension liberation: repatriation orders
Powers in relation to winding up of occupational pension schemes
22 Powers to wind up occupational pension schemes
23 Freezing orders
24 Consequences of freezing order
25 Period of effect etc of freezing order
26 Validation of action in contravention of freezing order
27 Effect of determination to wind up scheme on freezing order
28 Effect of winding up order on freezing order
29 Effect of assessment period under Part 2 on freezing order
30 Power to give a direction where freezing order ceases to have effect
31 Notification of trustees, managers, employers and members
32 Sections 23 to 31: supplementary
Trustees of occupational pension schemes
33 Prohibition orders
34 Suspension orders
35 Appointments of trustees by the Regulator
36 Independent trustees
37 Disqualification
Contribution notices where avoidance of employer debt
38 Contribution notices where avoidance of employer debt
39 The sum specified in a section 38 contribution notice
40 Content and effect of a section 38 contribution notice
41 Section 38 contribution notice: relationship with employer debt
42 Section 38 contribution notice: clearance statements
Financial support directions
43 Financial support directions
44 Meaning of “service company” and “insufficiently resourced”
45 Meaning of “financial support”
46 Financial support directions: clearance statements
47 Contribution notices where non-compliance with financial support direction
48 The sum specified in a section 47 contribution notice
49 Content and effect of a section 47 contribution notice
50 Section 47 contribution notice: relationship with employer debt
51 Sections 43 to 50: interpretation
Pensions Act 2004 (c. 35 )iii
Transactions at an undervalue
52 Restoration orders where transactions at an undervalue
53 Restoration orders: supplementary
54 Content and effect of a restoration order
55 Contribution notice where failure to comply with restoration order
56 Content and effect of a section 55 contribution notice
Sections 38 to 56: partnerships and limited liability partnerships
57 Sections 38 to 56: partnerships and limited liability partnerships
Applications under the Insolvency Act 1986
58 Regulator’s right to apply under section 423 of Insolvency Act 1986
Register of schemes
59 Register of occupational and personal pension schemes
60 Registrable information
61 The register: inspection, provision of information and reports etc
62 The register: duties of trustees or managers
63 Duty of the Regulator to issue scheme return notices
64 Duty of trustees or managers to provide scheme return
65 Scheme returns: supplementary
Register of prohibited trustees
66 Register of prohibited trustees
67 Accessibility of register of prohibited trustees
Collecting information relevant to the Board of the Pension Protection Fund
68 Information relevant to the Board
69 Duty to notify the Regulator of certain events
Reporting breaches of the law
70 Duty to report breaches of the law
Reports by skilled persons
71 Reports by skilled persons
Gathering information
72 Provision of information
73 Inspection of premises
74 Inspection of premises in respect of employers’ obligations
75 Inspection of premises: powers of inspectors
76 Inspection of premises: supplementary
77 Penalties relating to sections 72 to 75
78 Warrants
79 Sections 72 to 78: interpretation
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