Commentary on Sections Collecting information relevant to the Board of the Pension Protection Fund Section 69: Duty to notify the Regulator of certain events
237.This section provides that the trustees or managers of an occupational pension scheme, which is an eligible scheme for the purposes of Part 2 of this Act (see section 126(eligible schemes)) must report any prescribed event in relation to the scheme to the Regulator (unless the Regulator has directed otherwise).
238.Subsection (4) specifies that the report must be made in writing and given as soon as is reasonably practicable after the person reporting has become aware of the notifiable event.
239.It is intended that the information so collected by the Regulator will assist it in its function of limiting calls on the Board of the Pension Protection Fund (see section 5(1)(c) (Regulator’s objectives)).
240.Subsection (6) provides that anyone who makes a report under this section is protected in the event that making such a report would otherwise contravene any other duty imposed on that person – for example, a confidentiality section in an employment contract. Section 311(protected items) deals with the issue of legal professional privilege.
241.Subsections (7) and (8) apply section 10 of the Pensions Act 1995 (civil penalties) to failures to comply with obligations imposed by this section.