# Finance Act 2004, Section 196K: Employer asset-backed contributions: “advances” under acceptable structured finance arrangements


(1) This section applies if—
(a) an employer pays a contribution under a registered pension scheme,
(b) condition A in section 196B, 196D or 196F is met,
(c) the asset-backed arrangement is an acceptable structured finance arrangement for the purposes of section 196B, 196D or 196F (as the case may be) and, accordingly, condition B in that section is not met, and
(d) the advance gives rise to a loan within the meaning of Chapter 3 (see section 162).
(2) Section 180(4) does not prevent the advance from being a scheme administration employer payment (if it would otherwise do so).
(3) In this section “the advance” and “the asset-backed arrangement” have the same meaning as in section 196B, 196D or 196F (as the case may be).

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Source: https://www.legislation.gov.uk/ukpga/2004/12/section/196K (the official version)
Page: https://openlegislation.uk/finance-act-2004/section-196K
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.