Regulation 2 Interpretation

In these Regulations—

• “pension rule 1” means pension rule 1 in section 165 of the Finance Act 2004 M1;

• “relevant scheme funds” means any sums and assets held under a pension scheme—

  1. (a)

     to which these Regulations apply, and

  2. (b)

     which would be subject to inheritance tax if the scheme did not meet the requirements for a qualifying non-UK pension scheme.