The Occupational Pension Schemes (Auditors) Regulations 1987 No. 1102

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Statutory Instruments

1987 No. 1102

PENSIONS

The Occupational Pension Schemes (Auditors) Regulations 1987

Made

25th June 1987

Laid before Parliament

6th July 1987

Coming into force

27th July 1987

The Secretary of State for Social Services, in exercise of the powers conferred upon him by section 168(1) of, and Schedule 20 to, the Social Security Act 1975(1), section 56P of the Social Security Pensions Act 1975(2)and sections 54(1) and 84(1) of the Social Security Act 1986(3) and of all other powers enabling him in that behalf, by this instrument, which is made before the end of a period of 12 months from the commencement of the enactments under which it is made, makes the following Regulations:

Citation, commencement and interpretation

1.-(1) These Regulations may be cited as the Occupational Pension Schemes (Auditors) Regulations 1987 and shall come into force on 27th July 1987.

(2) In these Regulations, unless the context otherwise requires-

and other expressions have the same meaning as in the Act.

(3) Except so far as the context otherwise requires, any reference-

(a)in these Regulations to a numbered regulation is to the regulation in these Regulations bearing that number;

(b)in a regulation to a numbered paragraph is to the paragraph of that regulation bearing that number.

Application of Regulations

2. None of the requirements of these Regulations shall apply to any scheme to which regulation 7 of the Disclosure Regulations does not apply.

Appointment, resignation and removal of auditors

3.-(1) The Appointing Body of a scheme shall appoint one or more persons who satisfy the requirements of regulation 7(3) of the Disclosure Regulations to audit the scheme's accounts for each scheme year, or, where the scheme was in operation for only part of a particular scheme year, for that part of that scheme year.

(2) The Appointing Body of a scheme may remove an auditor at any time by serving on him a notice in writing stating the date with effect from which his appointment is terminated.

(3) Subject to the provisions of paragraph (4), an auditor of a scheme may resign at any time by Serving on the Appointing Body and the trustees of the scheme a notice in writing, and if he does so his resignation shall be effective from the date (if any) specified in the notice as being that from which he wishes his resignation to be effective, or, if no such date is so specified, the date on which the Appointing Body receives the notice.

(4) An auditor's resignation shall not be effective unless the notice referred to in paragraph (3) contains either-

(a)a statement specifying any circumstances connected with the auditor's proposed resignation which, in his opinion, significantly affect the interests of the members or prospective members of, or beneficiaries under, the scheme; or

(b)a statement that the auditor knows of no such circumstances.

(5) Where an auditor is removed in accordance with paragraph (2), he shall, within 14 days of the removal, serve on the Appointing Body and the trustees of the scheme either-

(a)a statement specifying any circumstances connected with the removal which, in his opinion, significantly affect the interests of the members or prospective members of, or beneficiaries under, the scheme; or

(b)a statement that the auditor knows of no such circumstances.

(6) When the last remaining or only auditor who was appointed to audit the accounts for a scheme-

(a)is removed by the Appointing Body;

(b)resigns; or

(c)dies,

before completing the audit of those accounts for a scheme year or part of a scheme year, the Appointing Body shall either reappoint him with his consent, or appoint one or more other auditors in his place, as soon as reasonably practicable, to audit those accounts.

(7) In a case where a statement has been made under paragraph (4) or (5), the trustees shall-

(a)furnish the next auditor whom the Appointing Body appoints with a copy of that statement on or before the day on which he is appointed, or, if it is later, on or before the fourteenth day after they receive the statement; and

(b)furnish any other auditor who is still in office with a copy of that statement on or before the fourteenth day after they receive it.

Disclosure of information by employers

4. It shall be the duty of-

(a)any employer who employs any member or prospective member of a scheme in employment to which the scheme applies, and

(b)the auditors (if any) of such an employer,

to furnish the trustees and the auditor of the scheme with such information and explanation as may reasonably be required for the performance of the duties of the auditor of the scheme.

Disclosure of information by trustees

5. The trustees of a scheme shall-

(a)allow the auditor of the scheme access at all reasonable times to the scheme's books, accounts and vouchers, and

(b)furnish the auditor with such information and explanation as may reasonably be required for the performance of the duties of the auditor.

Statement in auditor's report

6. In any case where the auditor considers that he has failed to obtain all the information and explanation which, to the best of his knowledge and belief, are necessary for the purposes of his audit, he shall make a statement to that effect in his auditor's report and (so far as he knows them) give the reasons for the failure.

Service of documents

7. Any-

(a)information or document which these Regulations require any person to furnish or serve; or

(b)request for information or a document to be furnished in pursuance of these Regulations,

may be furnished, served or made by post.

Offences and penalties

8. Any person who, without reasonable excuse, contravenes or fails to comply with any requirement imposed on him by regulation 3(7), 4 or 5 shall be liable on summary conviction to a penalty not exceeding £400 or where the offence consists of continuing any such contravention or failure after conviction thereof, £40 for each day on which it is so continued.

Signed by authority of the Secretary of State for Social Services

Nicholas Scott

Minister of State,

Department of Health and Social Security

25th June 1987

Explanatory Note

(This note is not part of the Regulations)

(1)

1975 c. 14. See definitions of "prescribe" and "regulations" in Schedule 20. Section 168(1) applies, by virtue of section 66(2) of the Social Security Pensions Act 1975 (c. 60), to the exercise of certain powers conferred by that Act.

(2)

1975 c. 60; section 56P was added by section 11 of the Social Security Act 1986 (c. 50)

(3)

1986 c. 50. See definition of "regulations" in section 84(1).

(4)

S.I. 1986/1046, to which there are amendments not relevant to these Regulations.

(5)

S.I. 1984/614, to which there are amendments not relevant to these Regulations.


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