# The Occupational and Personal Pension Schemes (Perpetuities and Contracting-out) Amendment Regulations 2001, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations amend one instrument which provides for certain pension schemes to be exempt from the application of the rule against perpetuities and two which are concerned with the arrangements whereby occupational and personal pension schemes may be contracted-out under Part III of the Pension Schemes Act 1993 (“the 1993 Act”).
Regulation 2 amends the Personal and Occupational Pension Schemes (Perpetuities) Regulations 1990 principally to take account of changes made by Schedule 13 to the Finance Act 2000 under which certain occupational pension schemes may from 6th April 2001 receive approval for tax relief purposes under Chapter IV of Part XIV of the Income and Corporation Taxes Act 1988. An amendment is also made by regulation 3 in the Occupational Pension Schemes (Contracting-out) Regulations 1996 for the same purpose.
Regulation 4 amends the Personal Pension Schemes (Appropriate Schemes) Regulations 1997 to include, among the personal pension schemes which may be appropriate schemes (and accordingly contracted-out under Part III of the 1993 Act), stakeholder pension schemes which are not self-invested personal pension schemes.
These Regulations impose no new costs on business.

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Source: https://www.legislation.gov.uk/uksi/2001/943/note (the official version)
Page: https://openlegislation.uk/occupational-and-personal-pension-schemes-perpetuities-and-contracting-out-amendment-regulations-2001/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.