Occupational Pension Schemes (Republic of Ireland Schemes Exemption) Regulations 2000

JurisdictionUK Non-devolved
CitationSI 2000/3198

2000 No. 3198

PENSIONS

The Occupational Pension Schemes (Republic of Ireland Schemes Exemption) Regulations 2000

Made 5th December 2000

Laid before Parliament 8th December 2000

Coming into force 31th December 2000

The Secretary of State for Social Security, in exercise of the powers conferred on him by sections 6, 113(1), 168(1) and (4), 175, 181(1) and (4), 182(2) and (3), 183(1) and 192(2) of the Pension Schemes Act 19931and sections 10(3), 17(4)(b), 19(4), 27(5)(b), 35(7), 37(10), 40(1) and (2), 41(1) and (6), 47(5), 49(2), 50(7), 56(2)(b), 68(6), 69(6), 75(9), 76(8), 81(2), 87(1), 89(2), 118(2), 124(1), 125(3) and (4) and 174(2) and (3) of the Pensions Act 19952, and of all other powers enabling him in that behalf, having consulted with such persons as he considered appropriate3, hereby makes the following Regulations:

S-1 Citation, extent, commencement and interpretation

Citation, extent, commencement and interpretation

1.—(1) These Regulations may be cited as the Occupational Pension Schemes (Republic of Ireland Schemes Exemption) Regulations 2000 and shall come into force on 31st December 2000.

(2) Regulation 11 of these Regulations, and this regulation, in so far as it applies to that regulation, extend to Northern Ireland.

(3) In these Regulations—

the 1995 Act” means the Pensions Act 19954;

“Republic of Ireland scheme” means an occupational pension scheme established in the Republic of Ireland under an irrevocable trust which has, or has had, at least one member in pensionable service in Great Britain or which has at least one member who has pension credit rights5, and which is a scheme—

(a) that is wholly or mainly administered in the Republic of Ireland;

(b) to which section 611(3) of the Income and Corporation Taxes Act 19886(split approved schemes) applies and which has been approved by the Commissioners of the Inland Revenue under any provisions of that Act relating to the approval of occupational pension schemes for the purpose of tax or which has applied for such approval and whose application has not yet been determined; and

(c) which has been approved under any provisions in force under the law of the Republic of Ireland relating to the approval of occupational pension schemes for the purposes of tax or which has applied for such approval and whose application has not yet been determined;

“member” in relation to a Republic of Ireland scheme, means—

(a) a person who is in pensionable service under the scheme (which for the purposes of these regulations includes a person who is in pensionable service under a secondment); or

(b) a person (other than one who is in pensionable service) who has accrued rights to benefit under the scheme either by virtue of pensionable service under the scheme or by virtue of a transfer credit or a pension credit; or

(c) a person who is entitled to the present payment of pension or other benefits under the scheme; and

“the Schedule” means the Schedule to these Regulations.

S-2 Exemption of Republic of Ireland schemes—general provision

Exemption of Republic of Ireland schemes—general provision

2. Where a Republic of Ireland scheme has at least one member who is, or has been, in pensionable service under the scheme in the Republic of Ireland, it shall be—

(a) exempt from the requirements of any provision of the 1995 Act which is listed in the Schedule; and

(b) subject to the exemptions from the requirements of any regulations which are provided for by regulations 6 to 12 of these Regulations.

S-3 Exemption of Republic of Ireland schemes from section 27 of the 1995 Act

Exemption of Republic of Ireland schemes from section 27 of the 1995 Act

3. For the purposes of section 27 of the 1995 Act (trustees not to be auditor or actuary of the scheme), references in that section to a trustee of a trust scheme shall not include a trustee of any scheme which is a Republic of Ireland scheme within the meaning of these Regulations.

S-4 Information to be given to members

Information to be given to members

4.—(1) The trustees or managers of a Republic of Ireland scheme shall,—

(a)

(a) in relation to any member who is resident in Great Britain on the date on which these Regulations come into force, or who becomes resident in Great Britain after that date, notify that person in writing within the period of 12 months commencing on that date, or within the period of 12 months commencing on the date on which the member became resident in Great Britain, whichever is the later; and

(b)

(b) in relation to any person who is resident in Great Britain and who becomes a member of the Republic of Ireland scheme after the date on which these Regulations come into force, notify that person in writing within the period of 2 months commencing on the date on which that person became a member of the scheme,

that the scheme is a Republic of Ireland scheme within the meaning of these Regulations and that it is exempt, as provided for by these Regulations, from the regulatory requirements of the 1995 Act or of any regulations.

(2) Any information which the trustees or managers of a Republic of Ireland scheme are required to provide under paragraph (1) of this regulation to a member who is not employed in any employment to which the scheme relates shall be treated as having been provided by them if it was sent by post to that member at his last known address.

S-5 Penalties

Penalties

5. Where any person fails, without reasonable cause, to comply with any of the requirements imposed by regulation 4 of these Regulations, the Occupational Pensions Regulatory Authority may require that person to pay, within the period ending 28 days after the date of its imposition, a penalty which shall—

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

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

S-6 Amendment of the Occupational Pension Schemes (Member-nominated Trustees and Directors) Regulations 1996

Amendment of the Occupational Pension Schemes (Member-nominated Trustees and Directors) Regulations 1996

6.—(1) The Occupational Pension Schemes (Member-nominated Trustees and Directors) Regulations 19967shall be amended as follows.

(2) After sub-paragraph (n) of regulation 4(1) (exemptions from member-nominated trustee requirements), there shall be inserted the following sub-paragraph:

“(o)

“(o) which is a Republic of Ireland scheme within the meaning of the Occupational Pension Schemes (Republic of Ireland Schemes Exemption) Regulations 2000.”.

(3) After sub-paragraph (o) of regulation 6(1) (exemptions from member-nominated director requirements), there shall be inserted the following sub-paragraph:

“(p)

“(p) which is a Republic of Ireland scheme within the meaning of the Occupational Pension Schemes (Republic of Ireland Schemes Exemption) Regulations 2000.”.

S-7 Amendment of the Occupational Pension Schemes (Disclosure of Information) Regulations 1996

Amendment of the Occupational Pension Schemes (Disclosure of Information) Regulations 1996

7. In regulation 2(2) of the Occupational Pension Schemes (Disclosure of Information) Regulations 1996 (application of the Regulations)8after sub-paragraph (a) there shall be inserted the following sub-paragraph:

“(aa)

“(aa) which is a Republic of Ireland scheme within the meaning of the Occupational Pension Schemes (Republic of Ireland Schemes Exemption) Regulations 2000;”.

S-8...

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