Explanatory Note
(This note is not part of the Regulations)
The Occupational Pension Schemes (Scheme Administration) Regulations 1996 (''the Regulations") are the first regulations to be made in respect of the administration of occupational pension schemes under the Pensions Act 1995 (''the Act").
The Regulations are made before the end of the period of six months beginning with the coming into force of the provisions of Part I of the Act by virtue of which they are made and therefore the requirement to consult does not apply.
Part I of the Regulations relates to citation, commencement and interpretation.
Part II makes provision relating to the appointment of professional advisers (regulations 2 and 3); qualification and experience of the auditor or actuary (regulation 4); manner and terms of appointment and removal (regulation 5); duty to disclose information (regulation 6).