Section 82Part 14 — National Pensions Board
Information
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The Director or the Board may require an employer, an administrator or any other person to supply to the Director or the Board such information and within such time limits as they may specify for the purpose of ascertaining compliance with this Act and regulations.
A person to whom a request is made under subsection (1) shall comply with the request within the time specified by the Director or the Board.
A person who contravenes subsection (2) commits an offence and is liable on summary conviction to a fine of ten thousand dollars or to imprisonment for a term of one year, or to both.
The Director or the Board may require an administrator to secure an appraisal of any or all of the assets of the pension fund by one or more independent valuers, or the Director or the Board may obtain the appraisal at the expense of the administrator.
The administrator shall deliver the appraisal to the Board within the period of time in the requirement or within such other period of time as the Director or the Board may specify.
An administrator who fails to deliver an appraisal contrary to subsection (5) commits an offence and is liable on summary conviction to a fine of twenty thousand dollars or to imprisonment for a term of two years, or to both.