Occupational Pension Schemes (Disclosure of Information) Regulations, 1991.
Statutory Instruments
Source: Statutory Instruments

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paragraphs: (1) These Regulations may be cited as the Occupational pension Schemes (Disclosure of Information) Regulations, 1991.
(2) These Regulations shall come into operation on the 1st day of August, 1991.
2 Revocation.
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paragraphs: The Occupational Pension Schemes (Disclosure of Information) Regulations, 1990 ( S.I. No. 332 of 1990 ) are hereby revoked.
3 Definitions.
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paragraphs: In these Regulations—
"the Act" means the Pensions Act, 1990 (No. 25 of 1990);
"affiliated employer" means another employer where one of the employers is a subsidiary (within the meaning of section 155 of the Companies Act, 1963 (No. 33 of 1963)) of the other, or where both employers are subsidiaries of a third employer;
"authorised trade union" has the meaning assigned to it by section 54 (6) of the Act;
"made available for inspection" means made available for inspection at a place which is convenient having regard to the circumstances of the request and of the persons who made it;
"on request" means a request in writing for a specified document or item of information provided that any request made within 12 months of the last occasion on which a copy of the same document or information was made available or furnished to the same person shall not be deemed to be a valid request;
"preserved benefit" has the meaning assigned to it by section 28 of the Act;
"scheme year", in relation to a scheme, means whichever of the periods specified in section 55 (1) of the Act the trustees select;
"self-investment", in relation to a scheme, means investment of all or part of the resources of the scheme in the business of the employer of any person employed in relevant employment, or of an affiliated employer, and for this purpose the term "investment" shall be deemed to include—
(a) shares or other securities issued by the employer or by an affiliated employer,
(b) land which is occupied or used by or subject to a lease in favour of the employer or an affiliated employer,
(c) property, other than land, which is used for the purpose of any business carried on by the employer or an affiliated employer,
(d) loans to the employer or an affiliated employer,
(e) moneys due to the scheme held by the employer or an affiliated employer;
"concentration of investment", in relation to a scheme, means investments exceeding a stated percentage of the resources of the scheme in one unertaking and in any associate of it or in one property, other than in the following categories:—
(a) Government securities;
(b) insurance policies;
(c) contracts of assurance;
(d) managed funds;
(e) unit trusts; and
(f) cash deposits.
4 Audited Accounts.
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paragraphs: (1) In this article "relevant scheme" means a scheme to which the Act applies by virtue of section 56.
(2) Subject to sub-article (3) of this article and to article 7 of these Regulations, the trustees of a relevant scheme shall, in accordance with section 56 of the Act, cause—
(a) the accounts of such a scheme to be audited by a qualified auditor in respect of each scheme year which commences on or after the 1st day of January, 1991 (or, where the relevant scheme had been in operation for only part of that scheme year for that part of that scheme year), and
(b) the auditor's report to be prepared on the accounts,
as soon as reasonably practicable after the end of the scheme year.
(3) A copy of the latest audited accounts and the auditor's report on the accounts shall be made available by the trustees of the scheme not later than 9 months after the end of the scheme year to which it relates, or such later date as may be approved by the Board, in the manner specified in sub-article (4) of this article to the following persons:
(a) the members and prospective members of the scheme,
(b) the spouses of members and of prospective members of the scheme,
(c) persons within the application of the scheme qualifying or prospectively qualifying for its benefits, and
(d) an authorised trade union representing the members concerned.
(4) A copy of the latest audited accounts and the auditor's report on the accounts shall be furnished free of charge—
(a) to an authorised trade union representing the members of the relevant scheme not later than 9 months after the end of the scheme year to which it relates or such later date as may be approved by the Board;
(b) on request, to any of the persons specified in paragraphs (a), (b) and (c) of sub-article (3) of this article not later than 4 weeks after the request is made.
(5) A copy of any earlier audited accounts or auditor's report on the accounts prepared under section 56 of the Act shall be made available for inspection free of charge on request to any of the persons specified in sub-article (3) of this article not later than 4 weeks after the request is made.