Entire Section

  • Payment Schedule

    • COB 12.3.7

      The Operator of a Scheme must ensure that a Payment Schedule is prepared setting out in respect of each Participating Employer:
      (a) the rates, including the due dates, of all contributions payable to the Scheme by the Participating Employer;
      (b) each Member’s name, address and nominated Beneficiary; and
      (c) the amounts likely to be payable by each Member by way of fees or charges for the relevant year.
      Derived from DFSA RMI261/2019 (Made 18th December 2019). [VER35/01-20]

    • COB 12.3.8

      (1) The Operator of a Scheme must ensure that the Administrator notifies a Member of the Scheme in respect of whom a payment is due:
      (a) if payment under the Payment Schedule is not paid on the due date; and
      (b) if the amount is not recovered, of the consequences of the nonpayment to the Member.
      (2) The Administrator of the Scheme must notify the Operator:
      (a) if any payment under the Payment Schedule is not paid on the due date; and
      (b) if the amount is not recovered, of the consequences of the nonpayment for the Members of the Scheme.
      Derived from DFSA RMI261/2019 (Made 18th December 2019). [VER35/01-20]