Moved by
Baroness Bowles of Berkhamsted
33: After Clause 115, insert the following new Clause—
“Report for the purposes of the Company Directors Disqualification Act 1986
(1) The Pensions Regulator must make a report to the Secretary of State under this section if the circumstances in subsection (2) apply.
(2) The circumstances in this subsection are where—
(a) a person has been convicted of an offence under this Act or another offence related to a pension scheme,
(b) it appears to the Pensions Regulator that a person has committed an offence under this Act or another offence related to a pension scheme, or
(c) a person is fined under section 88A of the Pensions Act 2004.
(3) In the report under subsection (1) the Pensions Regulator must—
(a) identify the person,
(b) identify, where the person is a corporate body, any person who was a director of it at the time any offence was committed or appears to have been committed,
(c) report on any facts which appear to the Pensions Regulator to be relevant to the Secretary of State for the purpose of making a decision under section 8(1) of the Company Directors Disqualification Act 1986, and
(d) state whether the Pensions Regulator considers that, having regard to the need for public confidence in the system of pensions regulation, it would be expedient in the public interest for any person so identified to be the subject of a disqualification order.
(4) But the Pensions Regulator is not to be required to make a report to the Secretary of State in respect of a person if—
(a) that person is a director who is the subject of a disqualification order under section 2 of the Company Directors Disqualification Act 1986 in respect of a criminal offence, or
(b) in the case of a fine under section 88A of the Pensions Act 2004, it appears to the Pensions Regulator that no public interest would be served in making a disqualification order against that person.”