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Regulation 2 Insertion of new regulation 15A in the principal Regulations

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

After regulation 15 of the principal Regulations (manner of payment of minimum contributions) there shall be inserted the following regulation—

“Allocation of minimum contributions

15A

A personal pension scheme can be an appropriate scheme only if the rules of the scheme provide that any minimum contributions falling to be applied so as to provide benefits in respect of a member are to be so applied from the date on which payment is made by the Secretary of State in accordance with regulation 15 and that such minimum contributions are to be allocated to that member’s account within three months of that date.”.