Section 14 Requirement to submit annual accountsC1 C2 C3 C4 I1 I2

(1)

The trustees of an authorised Master Trust scheme must send the scheme's accounts to the Pensions Regulator.

(2)

The accounts must be sent to the Regulator no later than two months after they are obtained by the trustees.

(3)

A scheme funder of a Master Trust scheme must send its accounts to the Pensions Regulator.

(4)

The scheme funder's accounts must be sent to the Regulator—

(a)

no later than nine months after the end of the financial year to which they relate, or

(b)

within such other period as may be specified in regulations made by the Secretary of State.

(5)

Section 10 of the Pensions Act 1995 (civil penalties) applies to a person who fails to comply with a requirement imposed by this section.

(6)

Regulations under this section are subject to negative resolution procedure.

Annotations

C1: Pt. 1 excluded (1.10.2018) by The Occupational Pension Schemes (Master Trusts) Regulations2018 (S.I. 2018/1030), regs. 1(2), 27
C2: Pt. 1 excluded (1.10.2018) by The Occupational Pension Schemes (Master Trusts) Regulations2018 (S.I. 2018/1030), regs. 1(2), 26
C3: Pt. 1 modified (1.10.2018) by The Occupational Pension Schemes (Master Trusts) Regulations2018 (S.I. 2018/1030), regs. 1(2), 28(2)
C4: Pt. 1 modified (1.10.2018) by The Occupational Pension Schemes (Master Trusts) Regulations2018 (S.I. 2018/1030), regs. 1(2), 28(3)(4)(a)(b)

I1: S. 14 in force at 5.9.2018 for specified purposes by S.I. 2018/965, reg. 2(a)
I2: S. 14 in force at 1.10.2018 in so far as not already in force by S.I. 2018/965, reg. 2(b)

C5: Pt. 1: power to disapply conferred (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), ss. 47(3)(b), 131(1)(3)(a); S.I. 2022/721, reg. 3(a)