Regulation 13 Amendments to the principal Regulations

After regulation 24 there shall be inserted—

“Return of information by plan manager

24A

(1)

A plan manager shall within three months after the end of each year (beginning with the year 1993–94) in which he acts as a plan manager, and after ceasing to act or to qualify as a plan manager, deliver to the Board a return for that year, or the part of that year in which he so acted or qualified, signed by him or on his behalf (or, where the return is made on magnetic tape, accompanied by a certificate signed by him or on his behalf as to the contents of the tape) which contains the information specified in paragraphs (2) and (3).

(2)

The information specified in this paragraph is information relating to each plan in respect of which he acted as plan manager in the year or the part of the year for which the return is made as to—

(a)

as regards the plan investor—

(i)

his full name,

(ii)

the address of his permanent residence, including postcode,

(iii)

his date of birth, and

(iv)

if he has one, his national insurance number;

(b)

as regards all such plans—

(i)

the number allocated to the plan by the plan manager,

(ii)

whether the plan is a general plan or a single company plan,

(iii)

the total amount of cash subscribed to the plan in the year or the part of the year for which the return is made,

(iv)

the total of any sums paid on such an application as is referred to in regulation 4(2A)(a), and on such an allotment or allocation as is referred to in regulation 4(2A)(b), in the year or the part of the year for which the return is made,

(v)

the aggregate market value at the date of transfer of any shares transferred to the plan manager or his nominee in accordance with regulation 4A(2) in the year or the part of the year for which the return is made;

(c)

as regards plans which closed in the year or the part of the year for which the return is made—

(i)

the date on which the plan closed, and

(ii)

which of the sub-paragraphs of paragraph (4) describes the reason that it closed.

(3)

The information specified in this paragraph is—

(a)

the respective market values at the end of the year or the part of the year for which the return is made of plan investments held by him or a nominee for him on behalf of plan investors under all the plans in respect of which he acted as plan manager, and which had not closed, in that year or part consisting of—

(i)

ordinary shares and qualifying EC shares,

(ii)

units in authorised unit trusts and funds of funds,

(iii)

shares in investment trusts, and

(iv)

cash; and

(b)

the aggregate market value at that date of all such plan investments held by him or his nominee.

(4)

For the purposes of this regulation a plan closes when—

(a)

the plan investor dies or requires the plan investments (including any cash held under the plan) to be transferred to him or his nominee; or

(b)

the plan is transferred to another plan manager; or

(c)

the plan manager has notified the plan investor under regulation 4(6)(g) that the plan has become void.

(5)

No claim for repayment may be made under regulation 19 for the month ending 5th July or any subsequent month until the return due under this regulation for the preceding year has been duly made by the plan manager and received by the Board.”