33.—(1) Where the scheme is a trust scheme that applies to earners in employments under different employers, a statement in accordance with paragraph 32 or a statement—N.I.
(a)listing the 100 largest investments by value held by the scheme as at the end of the year and stating what percentage of the resources of the scheme each such investment represents;
(b)identifying which of the investments referred to in head (a) are employer-related investments, and
(c)if, as at the end of the year, more than 5 per cent. of the resources of the scheme are invested in employer-related investments in contravention of Article 40(1) of the 1995 Order in relation to a particular employer—
(i)listing the employer-related investments and the name of the employer concerned;
(ii)as to the steps the scheme has taken or proposes to take to ensure that the percentage is reduced to 5 per cent. or less, and
(iii)as to the time when any proposed steps will be taken.
(2) [F1Subject to sub-paragraph (3), in sub-paragraph (1)] “employer-related investments” has the same meaning as in the definition in Article 40(2) of the 1995 Order but as if the following words in that definition were omitted—
(a)in paragraph (a) “or by any person who is connected with, or an associate of, the employer”, and
(b)“or any such person” in each place where they occur.
[F2(3) Where regulation 16A of the Occupational Pension Schemes (Investment) Regulations (Northern Ireland) 2005 (authorised Master Trust schemes) applies to a scheme that is a trust scheme, then for the purposes of the statement required by sub-paragraph (1), any employer-related investments which do not meet the definition in regulation 16A(4) of those Regulations may be disregarded.]
Textual Amendments
F1Words in Sch. 3 para. 33(2) substituted (1.10.2022) by The Occupational Pension Schemes (Investment) (Employer-related Investments by Master Trusts) (Amendment) Regulations (Northern Ireland) 2022 (S.R. 2022/210), regs. 1(1), 4(a)
F2Sch. 3 para. 33(3) inserted (1.10.2022) by The Occupational Pension Schemes (Investment) (Employer-related Investments by Master Trusts) (Amendment) Regulations (Northern Ireland) 2022 (S.R. 2022/210), regs. 1(1), 4(b)
Commencement Information
I1Sch. 3 para. 33 in operation at 6.4.2014, see reg. 1(1)