Regulation 11 Duties of trustee of a pension funds pooling scheme—annual provision of information

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

reg. 11(2) words substituted by Taxation of Pension Schemes 2006 art. 23(6)(a)
reg. 11(3) word substituted by Taxation of Pension Schemes 2006 art. 23(3)
reg. 11(3)(b) word substituted by Taxation of Pension Schemes 2006 art. 23(7)
reg. 11(4) word substituted by Taxation of Pension Schemes 2006 art. 23(3)
reg. 11(4)(a) word substituted by Taxation of Pension Schemes 2006 art. 23(7)
reg. 11(5) word substituted by Taxation of Pension Schemes 2006 art. 23(3)
reg. 11(5) words substituted by Taxation of Pension Schemes 2006 art. 23(6)(a)
reg. 11(5)(b) word substituted by Taxation of Pension Schemes 2006 art. 23(3)

(1)

Where, at the end of a tax year, a unit trust scheme has the characteristics specified in regulation 4(3), the trustee of that scheme shall, within three months after the end of that year (“the relevant year”), provide to an officer of the Board, in a form authorised, or in the form provided, by the Board—

(a)

the information concerning each participant in the scheme specified in paragraph (2) or, as the case may be, paragraph (3), and

(b)

a declaration made by the trustee and signed by him or, if the trustee is a company, signed by the company secretary or other person authorised by the company for that purpose, that the information so provided is correct to the best of the declarant’s knowledge and belief.

(2)

As regards a participant in the relevant year which is an exempt approved scheme or a superannuation fund, the information is—

(a)

the full title of the scheme or fund;

(b)

the Board’s reference number relating to the scheme or fund;

(c)

a copy of any certificate referred to in regulation 10(3) which was supplied by the trustee to the participant in respect of any accounting period of the scheme ending in or at the end of the relevant year;

(d)

where the trustee has in the relevant year received a notice given by the Board under regulation 7(8) or (9) revoking or withdrawing approval in relation to that participant—

(i)

a copy of the notice given to the participant by the trustee under regulation 9(8);

(ii)

the date or dates (if any), whether during the relevant year or subsequently but prior to the making of the declaration under paragraph (1)(b), on which units held by the participant, or by a nominee on its behalf, at the time the notice given by the Board was received by the trustee, were sold or cancelled;

(iii)

if applicable, the date on which the participant ceased to participate in the scheme;

(e)

where the trustee has not, whether in the relevant year or subsequently but prior to the making of the declaration under paragraph (1)(b), received a notice given by the Board under regulation 7(8) or (9) revoking or withdrawing approval in relation to that participant, confirmation that the participant had not at any time in that year received notification from the Board that it was not an exempt approved scheme or, as the case may be, a superannuation fund.

(3)

As regards a participant in the relevant year which is an overseas scheme, the information is—

(a)

the full title of the scheme;

(b)

details of any matters falling within sub-paragraphs (b) to (g) and, where the scheme is not one to which regulation 7(4) applies, sub-paragraphs (h) to (o) of regulation 7(3) which, by reason of changes to those matters having occurred in the relevant year, differ from—

(i)

the details of those matters which were included in the trustee’s application under regulation 7(1) in respect of the participant, or

(ii)

(if applicable) the details of those matters which were most recently provided in accordance with this sub-paragraph in respect of the participant in relation to tax years ending before the relevant year;

(c)

the like information as is specified in paragraph (2)(c);

(d)

if applicable, the like information as is specified in paragraph (2)(d).

(4)

As regards a participant in the relevant year which is an overseas scheme, an officer of the Board may, at any time after the form referred to in paragraph (1) has been provided to him by the trustee of the scheme, by notice require the trustee to furnish him, within such time (not being less than 21 days) as may be provided by the notice, with a statement in writing setting out details of matters—

(a)

falling within sub-paragraphs (b) to (g) and, where the scheme is not one to which regulation 7(4) applies, sub-paragraphs (h) to (o) of regulation 7(3) with respect to that scheme, and

(b)

subsisting at any time during the relevant year.

(5)

In this regulation any reference to a participant in the relevant year which is an exempt approved scheme or a superannuation fund or an overseas scheme (as the case may be)—

(a)

includes a reference to a participant which, although not a participant throughout that year, was a participant at some time during that year, and

(b)

includes a reference to a participant which is no longer an exempt approved scheme or a superannuation fund or an overseas scheme but which was such a scheme or fund at the time when notice of approval was given by the Board to the trustee of the scheme in accordance with regulation 7(5).