Social Welfare and Pensions Act 2011

Amendment of section 54 of Principal Act.

36.— Section 54 of the Principal Act is amended—

(a) in subsection (1)(ca), by inserting “or regulatory own funds trust RAC” after “in relation to the scheme”,

(b) in subsection (2) by inserting “which is not a regulatory own funds trust RAC” after “other than a small trust RAC”,

(c) in subsection (4)(ab) by inserting “or regulatory own funds trust RAC” after “actuary of a scheme”,

(d) in subsection (4)(b) by substituting “The actuary to a scheme or to a regulatory own funds trust RAC or the auditor of a scheme or trust RAC may request” for “The actuary to or the auditor of a scheme or the auditor of a trust RAC may request”, and

(e) by substituting the following subsection for subsection (7):

“(7) Subsections (1) to (6) do not apply to a small trust RAC, other than a small trust RAC which is a regulatory own funds trust RAC, but the trustees of a small trust RAC other than a small trust RAC which is a regulatory own funds trust RAC shall furnish to the Board such statistical information as is prescribed for the purposes of this subsection.”.