Explanatory note

These Regulations make provision in respect of certain occupational pension schemes which are established in the Republic of Ireland but which have, or have had, at least one member in pensionable service in Great Britain. In particular, they exempt such schemes from certain requirements imposed by the Pensions Act 1995 and by certain regulations made under the Pension Schemes Act 1993 and the Pensions Act 1995 in relation to occupational pension schemes.

Regulation 1 provides for citation, commencement and interpretation and includes a definition of “Republic of Ireland scheme”.

Regulation 2 provides for the exemption of Republic of Ireland schemes from the requirements imposed by the legislative provisions listed in the Schedule.

Regulation 3 exempts trustees of any scheme which is a Republic of Ireland scheme from the provisions of section 27 of the Pensions Act 1995.

Regulation 4 requires certain information to be given by the trustees or managers of Republic of Ireland schemes to scheme members.

Regulation 5 prescribes penalties in respect of a failure, without reasonable cause, to comply with the requirements imposed by regulation 4 of the Regulations.

Regulations 6 to 12 amend, respectively, the Occupational Pension Schemes (Member-nominated Trustees and Directors) Regulations 1996, the Occupational Pension Schemes (Disclosure of Information) Regulations 1996, the Occupational Pension Schemes (Scheme Administration) Regulations 1996, the Occupational Pension Schemes (Requirement to obtain Audited Accounts and Statement from the Auditor) Regulations 1996, the Occupational Pension Schemes (Investment) Regulations 1996, the Register of Occupational and Personal Pension Schemes Regulations 1997 and the Occupational and Personal Pension Schemes (Levy) Regulations 1997 so as to exempt Republic of Ireland schemes from the application of some or all of the provisions of those Regulations.

These Regulations do not impose any costs on business.