Regulation 8 Amendments to the Personal Pension Schemes (Appropriate Schemes) Regulations 1988

Regulation 3 of the Personal Pension Schemes (Appropriate Schemes) Regulations 1988^f1 (persons who and bodies which may establish schemes) is amended as described in paragraphs (2) and (3) of this regulation.

Paragraph (2) is amended by replacing sub-paragraph (b) with the following —

“(b)

is authorised under regulation 5 or 6 of the Friendly Societies (Long Term Insurance Business) Regulations 1987^f2 to carry on long term business as defined in those Regulations.”.

Paragraph (3) is amended by replacing sub-paragraph (b) with the following —

“(b)

a pension vehicle as defined in item 14 of the Schedule to the Building Societies (Designation of Qualifying Bodies) Order 1988^f3 which is associated with a building society as described in section 18(17) of the Building Societies Act 1986^f4;”.