Regulation 16 Transfer of plans to other plan managers

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

reg 16 am & rev in pt by Personal Equity Plan 2001 reg 11
reg.16(3Xb)(iv) amended by Personal Equity Plan 1997 reg.9
reg.16 substituted by Personal Equity Plan 1993 reg.10
reg.16(3)(b)(viii) rev.in pt. by Personal Equity Plan 1996 reg.7
reg.16(3)(b)(iii)(iv)(v) rev. (year 1999-00 and subsequent years of assessment) by Personal Equity Plan 1998 reg.7

Where arrangements are made by a plan investor to transfer a plan or plans to another plan manager (“the transferee”) the transfer shall have effect and a plan shall not be otherwise affected for the purpose of these Regulations by the occasion of transfer, provided that the plan manager making the transfer (“the transferor”) has given notice to the Board of the transfer together with the following information–

(a)

(i)

the name, address and tax office reference of the transferor;

(ii)

the name, address and tax office reference of the transferee;

(iii)

the effective date of transfer;

(iv)

details of plan investors whose plans are being transferred to the transferee showing names, addresses, national insurance numbers and tax office references;

(v)

details of plan investors who are to withdraw plan investments.

(b)

A declaration by the transferor that he has fulfilled all his obligations to plan investors, to the Board or otherwise, which are imposed by these Regulations.