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Regulation 12 Approved schemes and relevant statutory schemes

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

(1)

The Board may by notice require any of the persons prescribed by paragraph (2) below, within the time prescribed by paragraph (3) below, to furnish to the Board such particulars, and to produce to the Board such documents, as they may reasonably require relating to—

(a)

any monies received or receivable by an approved scheme or a relevant statutory scheme, or

(b)

any investments or other assets held by that scheme, or

(c)

any monies paid or payable out of funds held under that scheme.

(2)

The persons prescribed are—

(a)

the person who is, or the persons who are, for the time being by virtue of section 611AA of the Taxes Act the administrator of the scheme which is the subject of the notice;

(b)

any person who was, or any persons who were, at any time prior to the relevant date by virtue of section 611AA of the Taxes Act the administrator of that scheme, other than an excluded person;

(c)

the trustee or trustees of that scheme, or any person who was, or any persons who were, at any time prior to the relevant date the trustee or trustees of that scheme, other than an excluded person;

(d)

any person who is, or has been at any time prior to the relevant date, an employer in relation to that scheme, other than an excluded person;

(e)

any person who is, or has been at any time prior to the relevant date, a scheme sponsor in relation to that scheme, other than an excluded person;

(f)

any person who provides, or has at any time prior to the relevant date provided, administrative services to that scheme, other than an excluded person.

(3)

The time prescribed is such time (not being less than 28 days) as may be provided by the notice.

(4)

A notice under paragraph (1) above may require particulars to be furnished, and documents to be produced, relating to more than one scheme.

(5)

In paragraph (2) above—

(a)

“excluded person” means a person who, on ceasing to act in relation to the scheme or, as the case may be, provide administrative services to the scheme, transferred all documents in his possession or under his control relating to the scheme to another person who succeeded him in acting in relation to the scheme or providing administrative services to the scheme;

(b)

“the relevant date” means the date on which the time prescribed by regulation 15(3)(f) ends.