OpenLegislation

Regulation 12 Destination for pension credit — generalI1

Northern Ireland Not yet in force

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

The requirements referred to in paragraph 7(1)(b) of Schedule 5 (requirements to be satisfied to qualify pension arrangements as destinations for pension credits) are that the pension arrangement—

(a)

is an arrangement which carries on pension business as defined by section 431B of the Income and Corporation Taxes Act 1988f1 (meaning of “pension business”);

(b)

is an overseas arrangement within the meaning given in regulation 1(2) of the Transfer and Transfer Payment Regulations (interpretation), or

(c)

is an overseas scheme within the meaning given in regulation 1(2) of the Transfer and Transfer Payment Regulationsf2.

Annotations

Commencement

I1

Reg. 12 in operation at 1.12.2000, see reg. 1(1)

Footnotes

f1

Section 431B was inserted by paragraph 2 of Schedule 8 to the Finance Act 1995 (c. 4)

f2

The definition of “overseas scheme” was amended by paragraph 10(2) of the Schedule to S.R. 1997 No.160