138Application of Part to persons who cease to be scheme participants

#### 138 Application of Part to persons who cease to be scheme participants 138 Application of Part to persons who cease to be scheme participants > > (1) If a person ceases to be a scheme participant, this Part and the regulations continue to apply to the person in relation to the period during which the person was a scheme participant. > > > (2) For that purpose, a reference to a scheme participant includes a reference to a former scheme participant. > > > (3) A former scheme participant continues to be required to lodge an annual statement for the compliance period during which the person ceased to be a scheme participant. > > > (4) The requirements of this Part in relation to the conduct of audits and the provision of information, documents and evidence to the Scheme Regulator or Scheme Administrator continue to apply in relation to the person as if the person were a scheme participant. > > > (5) The Minister may, by written notice to the former scheme participant, bring forward the date on which the person would otherwise have to— > > > > > (a) lodge an annual statement with the Scheme Regulator for the compliance period during which the person ceased to be a scheme participant, and > > > > > (b) pay a shortfall penalty for the compliance period during which the person ceased to be a scheme participant. > > > (6) The notice may specify— > > > > > (a) the date (the lodgment date) by which the former scheme participant must lodge the annual statement, and > > > > > (b) the date by which the former scheme participant must pay the shortfall penalty. > > > (7) The lodgment date must not be earlier than 28 days after the person ceased to be a scheme participant. > > > (8) The provisions of this Part relating to the lodgment of an annual statement and the payment of a shortfall penalty apply as if a reference to 15 December were a reference to the lodgment date.