The Registered Pension Schemes (Audited Accounts) (Specified Persons) Regulations 2005

• Citation: S.I. 2005/3456
• Sections: 3

Section 1 Citation and commencement

These Regulations may be cited as the Registered Pension Schemes (Audited Accounts) (Specified Persons) Regulations 2005 and shall come into force on 6th April 2006.

Section 2 Specified descriptions of persons in relation to the audit of registered pension scheme accounts

In relation to the audit of the accounts of a registered pension scheme, the following descriptions of person are specified namely—

(a) a person specified in section 25 of the Companies Act 1989 or Article 28 of the Companies (Northern Ireland) Order 1990 (eligibility as a scheme auditor); and

(b) a person eligible for appointment as a scheme auditor under section 47(1) of the Pensions Act 1995 or Article 47(1) of the Pensions (Northern Ireland) Order 1995 (professional advisers) .

This is subject to regulation 3.

Section 3 Circumstances in which a person specified under regulation 2 is not to audit scheme accounts

Notwithstanding regulation 2, a person shall not be a registered pension scheme’s auditor if he is—

(a) a member of the scheme;

(b) employed under a contract of service by the scheme administrator;

(c) an employer in relation to the scheme; or

(d) ineligible, by virtue of section 27 of the Companies Act 1989, to audit the accounts of a company which is an employer in relation to the scheme.