Citation and commencement

1. These Regulations may be cited as the Stakeholder Pension Schemes (Amendment) Regulations 2002 and shall come into force on 4th July 2002.

Amendment of the Stakeholder Pension Schemes Regulations 2000

2. —(1)Regulation 12 of the Stakeholder Pension Schemes Regulations 2000( 3 ) (requirement for annual declaration) shall be amended as follows.

(2) In paragraph (2)—

(a) for “The trustees or manager of the scheme shall, at least once a year,” substitute “Subject to paragraph (2B), the trustees or manager of the scheme shall, within 3 months of each reporting date,”.

(b) for “a date not earlier than 3 months prior to the date of the declaration” substitute “the reporting date”.

(3) After paragraph (2) insert—

“ (2A) In this regulation reporting date means—

(a) in the case of the first reporting date, 5th April 2002 or one year after the date on which the scheme is registered under section 2, whichever is later; and

(b) in the case of each subsequent reporting date, a date not later than one year after the previous reporting date.

(2B) Where the reporting date is on or before 30th September 2002, the declaration required under paragraph (2) need not be made within 3 months of the reporting date but shall be made on or before 31st December 2002. ” .

(4) In paragraph (5) for “The trustees” substitute “Subject to paragraph (5A), the trustees”.

(5) After paragraph (5) insert—

“ (5A) Where, but for paragraph (2B), the trustees or manager would be required to obtain the statements specified in paragraph (5) from the reporting accountant on or before 29th December 2002, the trustees or manager shall obtain the statements on or before 31st December 2002. ” .