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Regulation 24 Information to be given to plan investor by plan manager

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Where under the terms of a plan a plan manager has discretion to purchase or sell investments he shall give to the plan investor once in every year a statement in writing of his reasons for–

(a)

making a purchase or sale within, and

(b)

retaining any investment throughout,

the period.

(2)

A plan manager who makes a payment to a plan investor out of or in respect of which tax has been deducted shall, if the investor so requests in writing, furnish the investor with a statement in writing showing the gross amount of the payment, the amount deducted and the amount actually paid.

(3)

On the transfer to a plan investor of a plan investment the plan manager shall provide for the investor details in writing of the market value on the date of transfer.