# The Occupational Pension Schemes (Transitional Provisions) Regulations 1988, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations provide for the disapplication and modification of provisions contained in Schedule 23 to the Income and Corporation Taxes Act 1988 (“the Schedule”) (occupational pension schemes approved before 23rd July 1987) in the circumstances prescribed in them; authorise the Commissioners of Inland Revenue (“the Board”) to direct that the Schedule or any provision of it shall not apply in any particular case where in the opinion of the Board the facts are such that its application would not be appropriate; and provide that the Regulations shall take effect as from 17th March 1987 and that any direction given under them shall take effect as from that date or any later date.
Regulation 1 provides for the citation and commencement of the Regulations and regulation 2 contains definitions.
Subject to regulation 4, regulation 3 disapplies paragraphs 2 to 4 and 6 of the Schedule, and regulations 6, 7, 8 and 10, respectively, disapply paragraphs 3, 4, 6 and 7, paragraph 5(2), paragraph 5(3), and paragraph 7 of the Schedule.
Regulations 5 and 9, respectively, modify paragraphs 2 and 5(3) and (4) of the Schedule.
Regulation 11 authorises the Board to make directions.
Regulation 12 provides for the effect of the Regulations and of directions made under regulation 11.
Authority for the retrospective effect of these Regulations (and of any direction given under regulation 11) is given by paragraph 1(2A) of the Schedule as inserted by section 56 of the Finance Act 1988.

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Source: https://www.legislation.gov.uk/uksi/1988/1436/note (the official version)
Page: https://openlegislation.uk/occupational-pension-schemes-transitional-provisions-regulations-1988/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.