(1) Subject to subsection (2), where a relevant person has reasonable cause to believe that a material misappropriation or a fraudulent conversion of the resources of a scheme, trust RAC or PRSA in relation to which he is a relevant person has occurred, is occurring or is to be attempted, that person shall, as soon as practicable, give to the Board a report in writing of the particulars of the misappropriation or conversion, as the case may be.
(2) Subsection (1) does not apply to any belief formed as a result of information obtained-
(a) in the case of a scheme, before 2 July 1996,
(aa) in the case of a PRSA, before 7 November 2002,
(b) in the case of a trust RAC, before 27 April 2007,
(c) by a registered administrator before the commencement of section 27 of the Social Welfare and Pensions Act 2008.
(2A) Where a relevant person referred to in paragraph (i) or (j) of section 82 has reason to believe that a PRSA provider has carried on activities in relation to PRSA products referred t
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