(1)There shall continue to be a body corporate by the name of the Occupational Pensions Board (in this Act referred to as “the Board”).
(2)The Board shall have—
(a)the functions conferred on them by this Act (or any corresponding provisions in force in Northern Ireland); and
(b)such advisory or other functions as may be conferred on them by the Secretary of State in respect of occupational pension schemes (including public service pension schemes).
(1)The Board shall consist of—
(a)a chairman,
(b)a deputy chairman, and
(c)not less than 8 nor more than 12 other members,
all of whom shall be appointed by the Secretary of State.
(2)Of the members other than the chairman and deputy chairman—
(a)one shall be appointed after consultation with organisations representative of employers, and
(b)one shall be appointed after consultation with organisations representative of employed earners,
being in either case such organisations as the Secretary of State thinks it appropriate to consult.
(1)The Secretary of State may from time to time direct the Board to make a report to him on the exercise of their functions.
(2)It shall be the duty of the Board to comply with any such direction as soon as is practicable.
(3)The Secretary of State shall lay before each House of Parliament a copy of any report made to him in response to a direction under subsection (1).
Schedule 1 shall have effect for the purpose of making further provision with respect to the Board.
(1)The Secretary of State may by regulations make provision—
(a)for the compilation and maintenance of a register of occupational and personal pension schemes (in this Act referred to as “the register”);
(b)for the appointment of a Registrar of Occupational and Personal Pension Schemes (in this Act referred to as “the Registrar”); and
(c)for conferring on the Registrar such functions relating to the compilation and maintenance of the register as may be specified in the regulations.
(2)The regulations—
(a)may make provision with respect to any of the following matters, that is to say—
(i)the remuneration and expenses, and any pensions, allowances or gratuities, or compensation for loss of office, payable to or in respect of the Registrar;
(ii)the staff and other facilities that are to be available to the Registrar;
(iii)the other terms and conditions upon which the Registrar is to hold office; and
(iv)the removal of the Registrar from office; and
(b)may confer upon the Registrar power to appoint an agent to perform any of his functions on his behalf.
(3)The register—
(a)may consist of one or more parts, as may be prescribed;
(b)shall be organised in such manner, and contain such information relating to occupational and personal pension schemes, as may be prescribed; and
(c)subject to the regulations, may be kept in such manner and form as the Registrar may think fit.
(4)The regulations may make provision—
(a)for the register, or extracts from the register, or for copies of the register or of extracts from the register, to be open to inspection by, and
(b)for copies of the register, or of extracts from it, to be supplied to,
such persons, in such manner, at such times, upon payment of such fees, and subject to such other terms and conditions, as may be prescribed.
(5)The regulations may require—
(a)any person who is or has been—
(i)a trustee or manager of an occupational or personal pension scheme or an administrator of a public service pension scheme, or
(ii)the employer in relation to employment of any description or category to which an occupational pension scheme relates, and
(b)such other persons as may be prescribed,
to provide the Registrar with such information for the purposes of the register in such form and within such time as may be prescribed.
(6)The Secretary of State may direct the Registrar to submit to him, in such form and at such intervals as may be specified in the direction, such statistical and other reports as the Secretary of State may require; and the Secretary of State may determine at his discretion whether or not to publish a report submitted to him under this subsection.
(7)Subsections (2) to (5) are without prejudice to the generality of subsection (1).
(8)Nothing in this Act shall be taken to imply that the Board may not be appointed as the Registrar.