# The Pension Scheme Surpluses (Administration) Regulations 1987, Regulation 2: Interpretation


In these Regulations unless the context otherwise requires—
“administrator”means the person or persons having the management of an exempt approved scheme;
“the Board”means the Commissioners of Inland Revenue;
“excluded payment”has the meaning given to it by regulation 4;
“Schedule 12”means Schedule 12 to the Finance Act 1986;
a“surplus payment”means a payment out of funds of an exempt approved scheme which is a payment (not being an excluded payment) to which paragraph 1(1) of Schedule 12 refers;
a“tax payment”means the amount equal to 40 per cent. of a surplus payment to which paragraph 1(2) of Schedule 12 refers.

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Source: https://www.legislation.gov.uk/uksi/1987/352/regulation/2 (the official version)
Page: https://openlegislation.uk/pension-scheme-surpluses-administration-regulations-1987/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.