# The Occupational Pension Schemes (Scheme Administration) Regulations 1996, Regulation 15: Employer to make payments of benefits into a separate account


(1) An employer is required, in cases where payments of benefits to members of trust schemes are made by him, to make into a separate account kept by him at a deposit taker, any payment of benefit which has not been made to a member within 2 business days from the date of receipt by the employer.
(2) (a) In this regulation “deposit taker” means—
(i) a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits; ...
(ii) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) sub-paragraph (a) must be read with—
(i) section 22 of the Financial Services and Markets Act 2000,
(ii) any relevant order under that section, and
(iii) Schedule 2 to that Act.

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Source: https://www.legislation.gov.uk/uksi/1996/1715/regulation/15 (the official version)
Page: https://openlegislation.uk/occupational-pension-schemes-scheme-administration-regulations-1996/regulation-15
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.