UK Offence Report

The Occupational Pension Schemes (Auditors) Regulations 1987

UK Statutory Instrument 1987 No. 1102 — creates 1 criminal offence.

1offences created
0recorded in force
0revoked
Made
25 June 1987
In force from
27 July 1987
Extent
Not stated
Subject
Corporate, financial services, company law, employment, charity, electoral and tax
Made under
Act 1975and sections 54(1) and 84(1) of the Social Security Act 1986, Schedule 20 to, the Social Security Act 1975

Explanatory note

(This note is not part of the Regulations) — published with the instrument by the department that made it. © Crown copyright, reused under the Open Government Licence v3.0.

These Regulations are made under either section 56P of the Social Security Pensions Act 1975 (“the 1975 Act”) or section 54(1) of the Social Security Act 1986 (“the 1986 Act”) before the expiry of the period of 12 months beginning with the bringing into force (on 6th April 1987) of section 11 of the 1986 Act (which inserted section 56P into the 1975 Act) and section 54(1) of the 1986 Act. Consequently, by virtue of section 61(5) of the 1986 Act, the provisions of section 61(2) and (3) of the 1975 Act (which, as amended by section 86(1) of, and paragraph 94 of Schedule 10 to, the 1986 Act, require reference to the Occupational Pensions Board of, and a report by the Board on, proposals to make regulations for the purposes of Part III or IV of the 1975 Act), do not apply to them. Regulation 2 provides that these Regulations do not apply to any scheme to which Regulation 7 of the Occupational Pension Schemes (Disclosure of Information) Regulations 1986 does not apply. Regulation 3 provides for the manner of the appointment, resignation and removal of auditors of occupational pension schemes and for the making of a statement, concerning any circumstances of his resignation or removal which affect the interests of members or prospective members of the scheme, by any such auditor when he resigns or is removed. The trustees of a scheme must furnish the next auditor who is appointed, and any remaining auditor, with any such statement. Regulation 4 provides for the disclosure of information by employers of members and prospective members of a scheme and auditors of such employers, to the trustees, or managers of the scheme and to the auditors of it. Regulation 5 provides for the disclosure of information by trustees of a scheme to the auditors of it. Regulation 6 provides for the making of a statement by an auditor who considers that he has failed to obtain all the information which is necessary for the purposes of his audit. Regulation 8 provides for offences and penalties in respect of the contravention of the provisions of regulations 3(7), 4 or 5.

Offences created by this instrument

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