# Finance Act 2004, Paragraph 12


(1) Amount 1 arises if paragraph (a) of section 179 (1) (amount of loan must not exceed 50% of pension scheme assets) is not complied with.
(2) Amount 1 is—
where—
AL is the amount of the loan, and
VA is an amount equal to 50% of the aggregate of the amount of the sums, and the market value of the assets, held for the purposes of the pension scheme before the loan is made.

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Source: https://www.legislation.gov.uk/ukpga/2004/12/schedule/30/paragraph/12 (the official version)
Page: https://openlegislation.uk/finance-act-2004/schedule-30/paragraph-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.