Pensions Act (Disclosure of Information) (Amendment) Regulations, 2007
Statutory Instruments
Source: Statutory Instruments

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paragraphs: (1) These Regulations may be cited as the Pensions Act (Disclosure of Information) (Amendment) Regulations, 2007.
(2) (a) Article 4 of these Regulations and the Occupational Pensions Schemes (Disclosure of Information) Regulations 2006 ( S.I. No. 301 of 2006 ) may be construed together as one and may be cited together as the Occupational Pension Schemes (Disclosure of Information) Regulations 2006 to 2007.
(b) Article 5 of these Regulations and the Trust RACs (Disclosure of Information) Regulations 2007 ( S.I. No. 182 of 2007 ) may be construed together as one and may be cited together as the Trust RACs (Disclosure of Information) Regulations 2007.
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paragraphs: These Regulations come into operation on 31 December 2007.
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paragraphs: In these Regulations—
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paragraphs: The Principal Regulations are amended—
(a) in article 8(1) by substituting the following for the definition of a“relevant scheme”:
“ ‘relevant scheme’ means any defined benefit scheme or any defined contribution scheme (other than a One Member Arrangement) which, at the commencement of the scheme year is a small scheme, apart from a small scheme to which the provisions of Part XII of the Act apply;”,
(b) in article 13—
(i) in sub-article (2)(a) (inserted by article 3 of the Regulations of 2006) by substituting “6 months” for “3 months”,
(ii) in sub-article (2)(b) (inserted by article 3 of the Regulations of 2006)—
(A) by substituting “6 months” for “3 months”, and
(B) by substituting “1 January 2009” for “1 January 2008”, and
(iii) in sub-article (6) (amended by article 3 of the Regulations of 2006) by substituting “1 January 2009” for “1 January 2008”.
(c) in article 14(2)(a) and article 14(4)(a) by inserting “or at any time thereafter, within two months after the request is made, not being a request made within 1 year of the last occasion on which such information was furnished” after “the scheme,”,
(d) in article 14(5) (inserted by article 3 of the Regulations of 2006) by substituting “1 January 2009” for “1 January 2008”,
(e) in Article 16 by inserting the following after sub-article (2)—
“(2A) (a) Where the trustees, or any employer to whose employment the scheme relates, propose in respect of a scheme in wind-up to exercise any discretion—
(i) as to the payment of any of the resources of the scheme to any such employer, or
(ii) as to the abatement of benefits in case of an insufficiency of resources,
the trustees or the employer, as may be appropriate, shall prior to the exercise of any such discretion furnish each person specified in sub-articles (5)(a), (b) and (c) with a notice setting out details of—
(I) the nature and extent of any discretion proposed to be exercised and the person or persons having the discretion,
(II) details of how it is proposed to exercise the discretion and the reasons why it is proposed to exercise the discretion in the particular manner, and
(III) a statement that observations on the proposed exercise of discretion may be submitted in writing by or on behalf of any member for consideration by the trustees or employer as appropriate within one month of the date of the written notice and the name and address of the person to whom observations should be sent.
(b) The trustees or the employer, as the case may be, shall not exercise the discretion until the time limit for making observations specified in sub-paragraph (a)(III) has elapsed and unless due consideration has been given to the observations received within that time limit.”,