The Occupational Pension Schemes (Requirement to obtain Audited Accounts and a Statement from the Auditor) Regulations 1996

UK Statutory Instrument 1996 No. 1975 — creates 1 criminal offence.

Made

25 July 1996

In force from

6 April 1997

Extent

Not stated

Subject

Corporate, financial services, company law, employment, charity, electoral and tax

Made under

Pensions Act 1995

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.

The Occupational Pension Schemes (Requirement to obtain Audited Accounts and a Statement from the Auditor) Regulations 1996 (“the Regulations”) make provision in respect of documents which the trustees or managers of an occupational pension scheme must obtain. The Regulations are made before the end of the period of six months beginning with the coming into force of the provisions of Part I of the Pensions Act 1995 by virtue of which they are made and therefore the requirement to consult does not apply. Regulation 1 relates to citation, commencement and interpretation. Regulation 2 requires trustees or managers to obtain accounts and the auditor’s statement within a prescribed time. Trustees or managers who fail to obtain accounts or the auditor’s statement without reasonable excuse are guilty of an offence and liable to a fine. Regulation 3 and the Schedule makes provision in respect of the form and content of accounts. Regulation 4 makes provision in respect of the auditor’s statement. An assessment of the compliance cost for employers of the measures arising from the Pensions Act 1995, including regulations, has been placed in the libraries of both Houses of Parliament. Copies can be obtained by post from the Department of Social Security, Private Pensions, 11th Floor, Adelphi, 1–11 John Adam Street, London WC2N 6HT.

Offences created by this instrument

• Requirement of trustees or managers to obtain documents regulation 2(3) · Status not determined · Strict liability

What Parliament said about it

Contributions, debates and written statements mentioning this instrument by name. Parliamentary material is reused under the Open Parliament Licence v3.0.

• Occupational Pensions Commons · Commons Chamber · 9 July 1996

  That the draft Occupational Pension Schemes (Requirement to obtain Audited Accounts and a Statement from the Auditor) Regulations 1996, which were laid before this House on 26th June, be approved.— [Mr. Heald.]

• Occupational Pension Schemes (Mixed Benefit Contracted-Out Schemes) Regulations 1996 Lords · Lords Chamber · 24 July 1996

  The noble Lord said: My Lords, on behalf of my noble friend Lord Lindsay I beg to move this order. I am sure that it is for the convenience of the House that we also deal with the draft Occupational Pension Schemes (Pensions Compensation Board Limit On Borrowing) Regulations 1996 laid before the House on 18th June and the draft Occupational Pension Schemes (Requirement to obtain Audited Accounts and a Statement from the Auditor) Regulations 1996, which were laid before the House on 26th June. These regulations are an integral part of the package of measures set out in the Pensions Act 1995.

• Occupational Pension Schemes (Requirement To Obtain Audited Accounts And A Statement From The Auditor) Regulations 1996 Lords · Lords Chamber · 24 July 1996
• Business Of The House Commons · Commons Chamber · 27 July 1996

  The Occupational Pension Schemes (Pensions Compensation Board Limit on Borrowing) Regulations 1996; The Occupational Pension Schemes (Mixed Benefit Contracted-out Schemes) regulations 1996; The Occupational Pension Schemes (Requirement to Obtain Audited Accounts and a Statement from the Auditor) Regulations 1996; The Occupational Pension Schemes (Member-Nominated Trustees and Directors) Regulations 1996.]

• Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021 Lords · Grand Committee · 5 July 2021 · Lord Davies of Brixton (Lab) [V]

  My Lords, I am in favour of these regulations and I take this opportunity to thank and congratulate the Minister and her colleagues, to whom she has given much of the credit, on the work they have done on climate change. I will pass on the opportunity to say something more generally about the Government’s record on the issue, but here we are on the right track. This is not the end of the journey, of course, because there is always further to go. Today, it is appropriate to pay tribute to all the work that was done in the Lords during the passage of the Pensions Scheme Bill. I was frustrated…

How Parliament handled it

Parliament's Statutory Instruments service records procedure from May 2017 onwards, and this instrument predates it. That is a limit of the source, not a statement that nothing happened.

Check the source

• This instrument on legislation.gov.uk The authoritative text, including amendments made since
• Other instruments from 1996