Regulation 8 Amendment of the Pension Sharing (Implementation and Discharge of Liability) Regulations 2000

In regulation 15 of the Pension Sharing (Implementation and Discharge of Liability) Regulations 2000^f1 (disqualification as a destination for pension credit – annuity contracts and insurance policies)—

(a)

in paragraph (4)—

(i)

omit the word “either”, and

(ii)

after sub-paragraph (a), insert—

“(aa)
the condition set out in paragraph (5A) is satisfied; or”, and

(b)

after paragraph (5), insert—

“(5A)
The condition referred to in paragraph (4)(aa) is that the lump sum payment is—

(a)
made by a registered pension scheme (within the meaning given in section 150(2) of the Finance Act 2004 (meaning of “pension scheme”));

(b)
a payment that is described in Part 2 of the Registered Pension Schemes (Authorised Payments) Regulations 2009; and

(c)
made to or in respect of a member.”.

Annotations

Footnotes

f1: S.I. 2000/1053. Relevant amending instrument is S.I. 2006/744.