Occupational and Personal Pension Schemes (Levy and Register) (Amendments) Regulations 1998

JurisdictionUK Non-devolved
CitationSI 1998/600

1998 No. 600

PENSIONS

The Occupational and Personal Pension Schemes (Levy and Register) (Amendments) Regulations 1998

Made 9th March 1998

Laid before Parliament 11th March 1998

Coming into force 1st April 1998

The Secretary of State for Social Security, in the exercise of the powers conferred by sections 6(1), (3) and (5), 175(1) to (5), (7) and (9), 181(1) and 182(2) and (3) of the Pension Schemes Act 19931and sections 89(2), 124(1), 174(2) and (3) of the Pensions Act 19952, and of all other powers enabling her in that behalf, having consulted such persons as she considers appropriate3, hereby makes the following Regulations:

S-1 Citation, commencement, extent and interpretation

Citation, commencement, extent and interpretation

1.—(1) These Regulations may be cited as the Occupational and Personal Pension Schemes (Levy and Register) (Amendments) Regulations 1998 and shall come into force on 1st April 1998.

(2) In these Regulations—

(a)

(a) regulation 3(1), (2) (in so far as the definitions referred to in that paragraph apply to any of regulations 3, 4(2), 6(1) and (3) to (8) and 8 of the Register Regulations) and (3); and

(b)

(b) regulation 4,

shall extend to Northern Ireland.

(3) In these Regulations—

“the Levy Regulations” means the Occupational and Personal Pension Schemes (Levy) Regulations 19974;

“the Register Regulations” means the Register of Occupational and Personal Pension Schemes Regulations 19975.

S-2 Amendment of the Levy Regulations

Amendment of the Levy Regulations

2.—(1) The Levy Regulations are amended in accordance with the following provisions of this regulation.

(2) In regulation 1(2) (interpretation)—

(a)

(a) the words from “, and for the purposes” to “treated as a personal pension scheme” are omitted from the definition of “registrable scheme”; and

(b)

(b) for the definition of “total membership” substitute—

““total membership” means, in relation to a registrable scheme as respects which a liability arises under regulation 2(1) or (2) or 5(1) below in respect of a registration year, the number of its members—

(a) in the case of a scheme—

(i) which has become a registrable scheme during the registration year immediately preceding the previous registration year, or

(ii) in respect of which no scheme year has ended before the beginning of the previous registration year,

on the day on which the scheme became a registrable scheme;

(b) in any other case, on the last day of the last scheme year which ended before the beginning of the previous registration year;”.

(3) In regulation 2 (the general levy)—

(a)

(a) in each of paragraphs (1) and (2) for “For” substitute “Subject to paragraph (4A), for”;

(b)

(b) in paragraph (4) for “The” substitute “Subject to paragraph (4A), the”;

(c)

(c) after paragraph (4), insert the following paragraph—

S-4A

“4A No levy shall be payable under paragraph (1) or (2) above in relation to a scheme in respect of any registration year—

(a) in which that scheme becomes a registrable scheme; or

(b) which immediately follows a registration year in which that scheme became a registrable scheme.”; and

(d)

(d) in paragraph (5)—

(i) after “a scheme” insert “to which paragraph (1) or (2) above applies”, and

(ii) omit sub-paragraph (a).

(4) In regulation 3 (amount of the general levy)—

(a)

(a) in paragraph (2)(a) after “occupational pension scheme,” insert the words “except one which is approved under section 591(2)(h) of the Income and Corporation Taxes Act 1988 (discretionary approval)6,”;

(b)

(b) in paragraph (2)(b) after “personal pension scheme,” insert the words “or a registrable occupational pension scheme which is approved under section 591(2)(h) of that Act,”.

(5) In regulation 4 (payment of the general levy)—

(a)

(a) in paragraph (2), omit the words “, subject to paragraph (3),”; and

(b)

(b) omit paragraph (3).

(6) In regulation 5 (the compensation levy)—

(a)

(a) for paragraph (1) substitute the following paragraphs—

S-1

“1 Subject to paragraph (1A), for the purpose of meeting the expenditure of the Compensation Board, the trustees of every registrable occupational pension scheme established by trust, except a scheme to which regulation 3(2)(b) above applies, shall, in respect of each registration year, be liable to pay a levy to the Compensation Board.

S-1A

1A No levy shall be payable under paragraph (1) above in relation to a scheme in respect of any registration year—

(a) in which that scheme becomes a registrable scheme; or

(b) which immediately follows a registration year in which that scheme became a registrable scheme.”; and

(b)

(b) in paragraph (4), omit sub-paragraph (a).

(7) In regulation 7 (payment of the compensation levy)—

(a)

(a) in paragraph (1), omit the words “, subject to paragraph (2),”; and

(b)

(b) omit paragraph (2).

(8) In regulation 11(c) (modification of section 75 of the Pensions Act 1995) omit the words from “, and, for this purpose” to “treated as a personal pension scheme” from the definition of “registrable scheme” in the substituted subsection (3).

(9) For the Schedule (amount of general levy and maximum amount of compensation levy) substitute the Schedule set out in the Schedule to these Regulations.

S-3 Amendment of the Register Regulations

Amendment of the Register Regulations

3.—(1) The Register Regulations are amended in accordance with the following provisions of this regulation.

(2) In regulation 1(4) (interpretation)—

(a)

(a) in paragraph (b) of the definition of “member”, omit the words “or a scheme treated as such”;

(b)

(b) omit the words “, and for the purposes” to “treated as a personal pension scheme” from the definition of “registrable scheme,”; and

(c)

(c) omit the definition of “total membership”.

(3) In regulation 3(2) (the register—contents), for sub-paragraph (g) substitute the following sub-paragraph—

“(g)

“(g)...

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