Regulation 2 Amendment to the Income Tax (Pension Funds Pooling Schemes) Regulations 1996

Amend the Income Tax (Pension Funds Pooling Schemes) Regulations 1996^f1 as follows.

In regulation 4(2) (description of a pension funds pooling scheme) at the beginning insert “Subject to paragraph (2A),”.

After regulation 4(2) insert—

“(2A)

Paragraph (2) does not apply if the unit trust scheme ceases to have the characteristics specified in paragraph (3) solely because it is wound up.”.