Retirement Benefits Schemes Act 2000 (Appointed Day) (No. 2) Order 2001

Statutory Document No. 648/01 RETIREMENT BENEFITS SCHEMES ACT 2000 THE RETIREMENT BENEFITS SCHEMES ACT 2000 (APPOINTED DAY) (No. 2) ORDER 2001 In exercise of the powers conferred on the Treasury by section 56 of the Retirement Benefits Schemes Act 2000 1 , and of all other enabling powers, the following Order is hereby made:— • Citation and interpretation

1. (1) This Order may be cited as the Retirement Benefits Schemes Act 2000 (Appointed Day) (No. 2) Order 2001. (2) In this Order – (a) references to "the Act" are references to the Retirement Benefits Schemes Act 2000 and references to sections are references to sections of the Act; (b) references to "international schemes" are references to 'international retirement benefits schemes' as defined in the Retirement Benefits Schemes (International Schemes) Regulations 2001 2 . Appointed day
2. (1) The provisions specified in Part I of the Schedule shall come into operation on – (a) in respect of international schemes which immediately before 1st January 2002 are operating in or from the Island, 1st June 2002; (b) in respect of all other international schemes, 1st January 2002. (2) The provisions specified in Part II of the Schedule shall come into operation on 1st January 2002. Made 7th November 2001 Minister for the Treasury 2000 c.14 2SD 645/01 Pric. Band A 50p • S

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• section 1 section 2 section 11 section 12 section 15 section 17 section 18 section 36 promotion of schemes application for authorisation schedule of payments to certain schemes schedule of payments: supplementary annual accounts professional advisers alteration of scheme and changes of trustee, administrator and professional adviser retirement benefits scheme administrators • SCHEDULE Article 2. PART I PROVISIONS OF THE ACT COMING INTO FORCE FOR THE PURPOSE OF INTERNATIONAL SCHEMES ONLY • PART II PROVISIONS OF THE ACT COMING FULLY INTO FORCE section 3 authorisation section 4 revocation of authorisation section 5 representations against revocation section 6 constitution and management section 16 publication of scheme particulars section 19 directors, controllers, etc. section 20 avoidance of exclusion clauses. section 25 to 35 powers of supervisions, investigation and intervention section 38(1), (2) and (4) to (9) review of Supervisor's decision section 41 blowing the whistle section 42 publication of information and advice section 43 restrictions on disclosure of information section 44 exceptions from restrictions and disclosure section 45 public registers section 46 false and misleading statements section 47 defence in criminal proceedings section 48 criminal penalties section 49 offences by bodies corporate section 50 civil penalties. •

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EXPLANATORY NOTE (This note is not part of the Order) This Order provides for the coming into operation, both wholly and partly, of certain provisions of the Retirement Benefits Schemes Act 2000 (c.14) from the days appointed in the Order. Article 1 provides for the citation and interpretation. Article 2(1) establishes the appointed day for the coming into operation, in respect of international schemes only, of those sections of the Act set out in Part I of the Schedule. For international schemes established and operating in or from the Isle of Man immediately before the 1st January 2002, the appointed day is the 1st June 2002. For all other international schemes, the appointed day is the 1st January 2002. Article 2(2) establishes that the appointed day for the coming into operation, for all schemes, of those sections of the Act set out in Part II of the Schedule is the 1st January 2002. NOTE AS TO EARLIER APPOINTED DAY ORDERS (This note is not part of the Order) The Retirement Benefits Schemes (Appointed Day)(No. 1) Order 2001 (S.D. 173/01) brought into force all of the provisions of the Act to the extent necessary for the purpose of making public documents under the Act. In addition it brought into force fully the following provisions of the Act — Provision Relevant Appointed Day Section 37 1st April 2001 Sections 38(3) and (10) 1st April 2001 Sections 51 to 56 1st April 2001 Schedules 1 to 3 1st April 2001