Regulation 31 Pension funds: governance compliance statementI1

England, Wales and Scotland Not yet in force

(1)

This regulation applies to the written statement prepared and published by an administering authority under regulation 73A of the 1997 Regulations ^f1.

(2)

The authority must—

(a)

keep the statement under review;

(b)

make such revisions as are appropriate following a material change in respect of any of the matters mentioned in paragraph (3); and

(c)

if revisions are made—

(i)

publish the statement as revised, and

(ii)

send a copy of it to the Secretary of State.

(3)

The matters are—

(a)

whether the authority delegates its function, or part of its function, in relation to maintaining a pension fund to a committee, a sub-committee or an officer of the authority;

(b)

if it does so—

(i)

the terms, structure and operational procedures of the delegation,

(ii)

the frequency of any committee or sub-committee meetings,

(iii)

whether such a committee or sub-committee includes representatives of employing authorities (including authorities which are not Scheme employers) or members, and, if so, whether those representatives have voting rights;

(c)

the extent to which a delegation, or the absence of a delegation, complies with guidance given by the Secretary of State and, to the extent it does not so comply, the reasons for not complying.

(4)

In reviewing and making revisions to the statement, the authority must consult such persons as it considers appropriate.

Annotations

Commencement

I1: Reg. 31 in force at 1.4.2008, see reg. 1(1)

Footnotes

f1: Regulation 73A was inserted by S.I.2005/3199 and substituted by S.I.2007/1561.