{
  "url": "https://openlegislation.uk/finance-act-2006/schedule-23/paragraph-25",
  "json_url": "https://openlegislation.uk/finance-act-2006/schedule-23/paragraph-25.json",
  "legislation": "ukpga/2006/25",
  "legislation_title": "Finance Act 2006",
  "legislation_url": "https://openlegislation.uk/finance-act-2006",
  "path": "schedule/23/paragraph/25",
  "kind": "paragraph",
  "number": "25",
  "heading": null,
  "text": "(1) Paragraph 34 of that Schedule (transitional provisions: entitlement to lump sums exceeding 25% of uncrystallised rights) is amended as follows.\n(2) In the sub-paragraph (7A) of paragraph 2 of Schedule 29 substituted by sub-paragraph (2), in the definition of AC, for “sub-paragraph (7B)” substitute “ sub-paragraphs (7AA) and (7B) ”.\n(3) After that substituted sub-paragraph insert—\n“(7AA) Where the pension in connection with which the lump sum is paid is a scheme pension under a money purchase arrangement, AC is the scheme pension purchase price, as it would be defined by paragraph 3 if the words “but subject to sub-paragraph (8)” in sub-paragraph (7A) and sub-paragraph (8) were omitted.”\n(4) In the sub-paragraph (7B) so substituted, for “the lump sum and the amount crystallised” substitute “ what would otherwise be LS or AC ”.\n(5) In sub-paragraph (3), insert at the end “ (but without prejudice to its operation for the purposes of paragraph 2(7AA) of Schedule 29 as inserted by sub-paragraph (2)). ”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2006/25/schedule/23/paragraph/25",
    "retrieved_at": "2026-10-29T09:14:22.939634+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."
}