{
  "url": "https://openlegislation.uk/finance-act-2004/schedule-35/paragraph-40",
  "json_url": "https://openlegislation.uk/finance-act-2004/schedule-35/paragraph-40.json",
  "legislation": "ukpga/2004/12",
  "legislation_title": "Finance Act 2004",
  "legislation_url": "https://openlegislation.uk/finance-act-2004",
  "path": "schedule/35/paragraph/40",
  "kind": "paragraph",
  "number": "40",
  "heading": null,
  "text": "For sections 239A and 239B (cessation of approval of retirement benefits schemes and withdrawal of approval of personal pension arrangements) substitute—\n“Registered pension schemes\nDe-registration of registered pension schemes\nDe-registration of registered pension schemes\n239A (1) This section applies where tax is charged in accordance with section 242 of the Finance Act 2004 (de-registration charge) where the registration of a registered pension scheme is withdrawn.\n(2) For the purposes of this Act the assets which at the relevant time are held for the purposes of the pension scheme—\n(a) are treated as having been acquired at the relevant time for a consideration equal to the amount on which tax is charged by virtue of section 242 of the Finance Act 2004 by the person who would be chargeable in respect of a chargeable gain accruing on a disposal of the assets at the relevant time, and\n(b) are not to be treated as having been disposed of by any person at the relevant time.\n(3) In subsection (2) “the relevant time” means the time immediately before the date of withdrawal of registration of the pension scheme.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Ss. 160-274, 281, Schs. 30-35 in force at 6.4.2006 but any power to make an order or regulations under those provisions may be exercised at any time after Royal Assent, see s. 284"
    }
  ],
  "outstanding_effects": [
    {
      "type": "repealed",
      "affecting": "ukpga/2012/14",
      "affecting_title": "Finance Act 2012"
    },
    {
      "type": "repealed",
      "affecting": "ukpga/2012/14",
      "affecting_title": "Finance Act 2012"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2004/12/schedule/35/paragraph/40",
    "retrieved_at": "2026-10-29T09:17:16.113356+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}