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Regulation 4 Relevant interest

Original text. Later amendments are not shown.

(1)

Subject to paragraph (2), for the purposes of section 333A(2)(b) of the 2000 Act, an interest is a “relevant interest” if it is—

(a)

the receipt of payments under an annuity;

(b)

the right of the primary beneficiary to payments at a future date under an annuity; or

(c)

the right of a secondary beneficiary to payments under an annuity that is contingent on the death of the primary beneficiary, whether or not that right is subject to the discretion of another person.

(2)

The interests of—

(a)

a pension scheme; or

(b)

the purchaser of the right to payments under an annuity from the primary beneficiary, or any subsequent purchaser of those rights,

  • are not relevant interests.