483.This section contains various consequential amendments to section 21 of the Pensions Act 1995.
484.All references to appropriate rules are removed, as are references to sections 17 and 19 (which are repealed).
485.A new subsection (2A) has been added to section 21 to enable Opra to impose sanctions on an employer who fails to carry out the statutory consultation procedure properly. The equivalent provision is currently in sections 17(5) and 19(5). Opra already has the power under section 21 to impose sanctions on trustees who fail (without reasonable cause, in the case of individual trustees) to comply with the requirements. Opra can prohibit a trustee, or impose a financial penalty.
Part II: Pensions. Commentary on Sections Selection of trustees and of directors of corporate trustees Section 46: Non-compliance in relation to arrangements or proposals