Regulation 4 Retirement benefitsI1

England and Wales

(1)

Liabilities for retirement benefits appropriated to a pension reserve in accordance with proper practices are liabilities specified for the purposes of section 7(3)(c).

C1(2)

For the purposes of paragraph (1) and regulation 30, “retirement benefits” means benefits payable pursuant to F1statutory requirements under an arrangement accounted for as a defined benefit pension plan or as other long-term employee benefits (as defined in accordance with proper practices).

Annotations

Textual amendments

F1: Words in reg. 4(2) substituted (1.4.2010) by The Local Authorities (Capital Finance and Accounting) (Amendment) (England) Regulations 2010 (S.I. 2010/454), regs. 1(1)(b), 3(1) (with reg. 3(2))

Modifications

C1: Reg. 4(2) modified (31.3.2010) by The Local Authorities (Capital Finance and Accounting) (Amendment) (England) Regulations 2010 (S.I. 2010/454), regs. 1(1)(a), 3(2)

Commencement

I1: Reg. 4 in force at 1.1.2004 for specified purposes and 1.4.2004 in so far as not already in force, see reg. 1(1)