Income Tax (Jersey
Occupational Pension Schemes) (Jersey) Order 2014
1 Interpretation
(1) In this Order –
“employer” shall be construed in accordance with Article 131(7)
of the Law;
“Law” means the Income Tax (Jersey) Law 1961.
(2) Expressions used in
this Order that are defined in Article 130 of the Law shall have the same
meaning in this Order.
(3) Where, in accordance
with Article 131(5) of the Law –
(a) an
application relates to only part of a Jersey occupational pension scheme; or
(b) only
part of such a scheme is approved,
any reference in this Order to a scheme, or to any person, action or
money associated with a scheme, shall be construed as a reference only to that
part of the scheme or only to any person, action or money associated with that
part of the scheme.
2 Approval
of Jersey occupational pension scheme
(1) This Article applies to
an application for approval of a Jersey occupational pension scheme, or part of
such a scheme, under Article 131 of the Law, for a year of assessment.
(2) The application must be
made by the scheme manager to the Comptroller.
(3) The application must
be –
(a) in
writing;
(b) made
before the end of the year of assessment for which approval of the scheme is
sought; and
(c) accompanied
by –
(i) a copy of the
instrument under which the scheme is established,
(ii) a
copy of the rules of the scheme, and
(iii) subject
to paragraph (4), a copy of the most recent annual accounts of the scheme.
(4) Paragraph (3)(c)(iii)
does not apply if the first annual accounts of the scheme have not yet been
prepared.
(5) The scheme manager must
also provide such other information and documents as the Comptroller reasonably
requires.
(6) The Comptroller is not
required to consider an application until all of the information and every
document required under paragraphs (3) and (5) is provided.
(7) If the Comptroller
decides to approve the scheme, he or she shall notify the scheme manager, in
writing, of the approval and of any additional conditions and requirements
imposed in the scheme’s case, under Article 131(16)(b) of the Law,
and the reason for their imposition.
(8) If the Comptroller
decides not to approve the scheme, he or she shall notify the scheme manager,
in writing, of his or her decision and the reasons for it.
3 Requirement
to notify Comptroller of changes in rules, etc. of scheme
(1) This Article
applies –
(a) after
an application for approval under Article 131 of the Law has been made and
before it has been decided; and
(b) after
an application for approval under Article 131 of the Law has been granted.
(2) The scheme manager of
the Jersey occupational scheme to which the application relates shall notify
the Comptroller, forthwith and in writing, of any change in the rules,
constitution, objects or conditions of the scheme that occurs after the
application is made.
4 Requirement
to provide information to Comptroller
(1) The Comptroller may,
either by a general notice or by a notice served on the scheme manager of an
approved Jersey occupational pension scheme, or the employer, require the
scheme manager or employer to do all or any of the following –
(a) to
prepare and provide the Comptroller with a return containing, as required by
the notice, all or any of the following information relating to a period
specified in the notice –
(i) such particulars
of income of the scheme as the Comptroller requires,
(ii) such
particulars of contributions made to the scheme as the Comptroller requires;
(b) to
prepare and provide the Comptroller with a return containing, as required by
the notice, all or any of the following information relating to a period
specified in the notice –
(i) the amounts of
payments of income for life made from the scheme during the period, the name
and place of residence of each recipient and, if the payments to a recipient
have commenced during the period, the date they commenced and the circumstances
in which, or the reasons for which, the payments commenced,
(ii) the
amounts of payments (other than income for life) made from the scheme during
the period and –
(A) the nature
of the payment (whether it is a return of contributions, a commutation, a
transfer or a payment of any other kind) and the circumstances in which, or the
reasons for which, it is made,
(B) the
name and place of residence of the recipient or, if the recipient is the estate
of a deceased pension holder, the name of the recipient and the name of the
deceased pension holder and the place of residence of the deceased pension
holder at the date of his or her death;
(c) to
provide the Comptroller with a copy of the most recent accounts of the scheme;
(d) to
provide the Comptroller with such other information and particulars as the
Comptroller reasonably requires for the purposes of Part 19 of the Law.
(2) A scheme manager or
employer must comply with a notice given under paragraph (1) within the
time limited by the notice.
5 Citation
This Order may be cited as
the Income Tax (Jersey Occupational Pension Schemes) (Jersey) Order 2014.