Article 215G ComplianceF1
Regulations may make provision with a view to securing that the trustees or managers of a relevant occupational pension scheme comply with a provision of regulations under Article 215D.
The regulations may, among other things—
provide for the Regulator to issue a notice (a “compliance notice”) to a person with a view to ensuring the person’s compliance with a provision of regulations under Article 215D;
provide for the Regulator to issue a notice (a “third party compliance notice”) to a person with a view to ensuring another person’s compliance with a provision of the regulations;
provide for the Regulator to issue a notice (a “penalty notice”) imposing a penalty on a person where the Regulator is of the opinion that the person—
has failed to comply with a compliance notice or third party compliance notice, or
has contravened a provision of regulations under Article 215D;
provide for the making of a reference to the First-tier Tribunal or Upper Tribunal in respect of the issue of a penalty notice or the amount of a penalty;
confer other functions on the Regulator.
The regulations may make provision for determining the amount, or the maximum amount, of a penalty in respect of a failure or contravention.
But the amount of a penalty imposed under the regulations in respect of a failure or contravention must not exceed—
£5,000, in the case of an individual, and
£50,000, in any other case.
In this Article “relevant occupational pension scheme” has the meaning given by Article 215F.
Annotations
Textual amendments
- F1
Arts. 215D-215G inserted (11.2.2021 for specified purposes, 31.10.2022 in so far as not already in operation) by Pension Schemes Act 2021 (c. 1), s. 131(2)(c)(3)(a), Sch. 9 para. 3; S.R. 2022/291, art. 2
Notes on Pensions dashboards
Textual amendments
- F1
Arts. 215A-215C and cross-heading inserted (11.2.2021 for specified purposes, 31.10.2022 in so far as not already in operation) by Pension Schemes Act 2021 (c. 1), s. 131(2)(c)(3)(a), Sch. 9 para. 2; S.R. 2022/291, art. 2