(1)These Regulations may be cited as the Occupational and Personal Pension Schemes (Levy) Regulations 1990 and shall come into force on 1st January 1991.
(1)Subject to regulation 5 of these Regulations, for the purpose of meeting some or all of the expenditure under section 57B, Part IVA and section 59K of the Act the trustees of every registrable scheme other than a paid up or frozen scheme shall be liable to pay a levy to the Secretary of State.
(2)The levy shall be payable in respect of each registration year.
(3)Any person who is responsible for the funding or management of a registrable scheme may discharge any liability which is imposed on the trustees of that scheme under paragraph (1) above by paying, in the manner and at the time required by these Regulations, the amount for which those trustees are liable.
(4)If a registrable scheme—
(a)commences after the beginning of a period in respect of which the levy is payable; or
(b)is wound up or becomes a paid-up or frozen scheme during a period in respect of which the levy is payable;
the levy shall nevertheless be payable in full for that period.
(1)The levy shall be remitted to the registrar of occupational and personal pension schemes who shall collect the same on behalf of the Secretary of State.
(2)Subject to regulation 6 of these Regulations, the levy shall be payable in advance for a period of 3 registration years at a time.
Where, but for this regulation, a levy would be payable in respect of the same registrable scheme under both these Regulations and any equivalent provision which has effect in Northern Ireland, the levy shall only be payable under these Regulations where the address of the scheme is in Great Britain.
(1)Notwithstanding regulation 4(2) of these Regulations the first payment of the levy shall be as follows—
(a)in the case of a scheme which is established before 1st May 1991 the first payment of the levy shall be made at the time the trustees supply information to the registrar in accordance with regulation 4 of the Register Regulations, and if that payment is made before 1st April 1992 it shall be in respect of the registration year beginning on 1st April 1991 only, but otherwise it shall be in respect of the period of 3 registration years beginning on 1st April 1991;
(b)in the case of a scheme which is established after 30th April 1991 but before 1st April 1992 the first payment of the levy shall be made at the time the trustees supply information to the registrar in accordance with regulation 4 of the Register Regulations and shall be made in respect of the registration year beginning on 1st April 1991 only; and
(c)in the case of a scheme which is established after 31st March 1992 the first payment of the levy shall be made at the time the trustees supply information to the registrar in accordance with regulation 4 of the Register Regulations and shall be made in respect of a period of 3 registration years beginning with the registration year in which the scheme is established.
(2)Where a payment is made in accordance with paragraph (1)(a) or (b) above in respect only of the registration year which begins on 1st April 1991, the registrar shall assign a letter, “A”, “B” or “C”, to the scheme, the first application to be received being assigned the letter “A”, the second application the letter “B”, the third application the letter “C”, the fourth application the letter “A”, and so on.
(3)Notwithstanding regulation 4(2) of these Regulations the second payment of the levy shall be made in accordance with the following paragraphs.
(4)If a scheme has been assigned the letter “A” the second payment of the levy in respect of that scheme shall be for a period of one registration year.
(5)If a scheme has been assigned the letter “B” the second payment of the levy in respect of that scheme shall be for a period of 2 registration years.
(6)If the scheme has been assigned the letter “C” the second payment of the levy in respect of that scheme shall be for a period of 3 registration years.
Contains public sector information licensed under the Open Government Licence v3.0.