Explanatory note
(This note is not part of the Regulations)
These Regulations amend the Income Tax (Pension Funds Pooling Schemes) Regulations 1996 (S.I. 1996/1585) to provide that a unit trust scheme does not cease to qualify as a pension funds pooling scheme solely because it ceases to satisfy the specified characteristics for such a scheme by reason of it being wound up.
Regulation 1 provides for the citation and commencement.
Regulation 2 introduces the amendments.
These Regulations impose no new costs on business.