Regulation 28 Scheme rules that prohibit unauthorised paymentsI1

United Kingdom

(1)

This regulation applies where—

(a)

a payment from a judicial scheme is permitted or required to be made under this Part,

(b)

the payment, if made, would be an unauthorised payment^f1, and

(c)

a rule of the scheme prohibits the scheme from making unauthorised payments.

(2)

The payment may be made only if it falls within a description of payments that correspond to a description of payments specified for the purposes of section 63 of PSPJOA 2022 in Treasury directions.

(3)

Paragraph (4) applies where—

(a)

in the course of taking the steps mentioned in regulation 16 (requirement to transfer assets held in a partnership pension account) a payment is made from a partnership pension account,

(b)

the payment, if made, would be an unauthorised payment, and

(c)

a rule of the scheme prohibits the scheme from making unauthorised payments.

(4)

The payment may be made notwithstanding the rule mentioned in paragraph (3)(c).

Annotations

Commencement

I1: Reg. 28 in force at 5.7.2023, see reg. 1(b)

Footnotes

f1: See section 63(5) of PSPJOA 2022 for the meaning of “unauthorised payment”.