Commentary on Sections Summary The Levy Section 181: Calculation, collection and recovery of levies
658.This section applies to the initial levy and the pension protection levies. It provides that these levies are payable to the Board by the trustees or managers of the scheme or any other prescribed person. Subsection (3) provides that the Board must determine the schemes which must pay any levy, calculate the amount of the levy to be paid, and notify any person of the amount of their liability and when it is payable. Subsection (4) allows the Board to delegate these duties to the Regulator. Subsection (5) provides that if schemes are eligible for only part of a year a proportion of the yearly levy is payable which reflects the proportion of the year during which the scheme is eligible. Exceptions to subsection (5) will be detailed in regulations. Subsection (6) and (7) provide for the levies to be a debt due to the Board which is recoverable by the Board or, if the Board determines, by the Regulator. Subsection (8) allows regulations to make provision for the collection and recovery of such debts and the circumstances in which the debt may be waived.