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Regulation 3 Amount of the general levy

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

The amount of the general levy payable in respect of each registration year shall be determined by reference to the total membership of a scheme.

(2)

For the purposes of paragraph (1), the general levy shall—

(a)

in the case of a registrable occupational pension scheme,F1except one which is approved under section 591(2)(h) of the Income and Corporation Taxes Act 1988 (discretionary approval), be calculated in accordance with Part I of the Schedule; and

(b)

in the case of a registrable personal pension scheme,F2or a registrable occupational pension scheme which is approved under section 591(2)(h) of that Act, be calculated in accordance with Part II of the Schedule.

Annotations

Textual amendments

F1

Words inserted into reg. 3(2)(a) by reg. 2(4)(a) of S.I. 1998/600 as from 1.4.98.

F2

Words inserted into reg. 3(2)(b) by reg. 2(4)(b) of S.I. 1998/600 as from 1.4.98.