Amendment of the Occupational Pension Schemes (Scheme Administration) Regulations 1996

2.—(1) The Occupational Pension Schemes (Scheme Administration) Regulations 1996(1) are amended as follows.

(2) In regulation 4(2) (qualifications and experience or approval required for appointment as the auditor or actuary)—

(a)at the beginning of paragraph (2)(d), insert “subject to paragraph (3),”;

(b)after paragraph (2) insert—

“(3) Paragraph (2)(d) does not apply in relation to the accounts and auditor’s statement for a relevant scheme for a scheme year—

(a)in which, on the first day of that scheme year, the scheme has at least 500 participating employers; or

(b)which immediately precedes a scheme year in which sub-paragraph (a) is satisfied.

(4) In paragraph (3), “relevant scheme” means a trust scheme which applies to earners in employment under different employers.”.