The Occupational Pension Schemes (Miscellaneous Amendments) Regulations 2014
Regulation 2 amends regulation 4 of the Occupational Pension Schemes (Scheme Administration) Regulations 1996 (S.I. 1996/1715) (“the Scheme Administration Regulations”). Regulation 4(2)(d) of the Scheme Administration Regulations provides that a person shall be prohibited from acting as a statutory auditor on the grounds of lack of independence as set out in section 1214 of the Companies Act 2006 (c. 46). The amendment provides that regulation 4(2)(d) does not apply to the accounts and auditor’s statement for a relevant scheme for a scheme year—in which the scheme has at least 500 participating employers at the start of that scheme year; orwhich immediately precedes a scheme year in which the scheme has at least 500 participating employers at the start of the scheme year.