{
  "url": "https://openlegislation.uk/personal-pension-schemes-appropriate-schemes-regulations-1988/regulation-2",
  "json_url": "https://openlegislation.uk/personal-pension-schemes-appropriate-schemes-regulations-1988/regulation-2.json",
  "legislation": "uksi/1988/137",
  "legislation_title": "The Personal Pension Schemes (Appropriate Schemes) Regulations 1988",
  "legislation_url": "https://openlegislation.uk/personal-pension-schemes-appropriate-schemes-regulations-1988",
  "path": "regulation/2",
  "kind": "regulation",
  "number": "2",
  "heading": "Forms of schemes which may be appropriate schemes",
  "text": "(1) Without prejudice to any other requirements imposed by the Act or regulations made under it, a personal pension scheme can be an appropriate scheme only if it is approved by the Inland Revenue under either Chapter II of Part I of the Finance (No. 2) Act 1987 or Chapter II of Part II of the Finance Act 1970 by reference to section 20(2)(h) of that Act and in either case it takes the form specified in any one (but not more than one) of sub-paragraphs (a) to (c) namely—\n(a) an arrangement for the issue of insurance policies or annuity contracts;\n(b) a unit trust scheme of a kind mentioned in Part I of Schedule 1 to these regulations which has been authorised under section 78(1) of, or by virtue of paragraph 9 of Schedule 15 to, the Financial Services Act 1986;\n(c) an arrangement for the investment of contributions in an interest-bearing account or shares in or deposits with a building society as defined in the Building Societies Act 1986.\n(2) For the purposes of this regulation a personal pension scheme which has been granted provisional approval by the Inland Revenue under the Personal Pension Schemes (Provisional Approval) Regulations 1987 shall be treated as being approved under Chapter II of Part I of the Finance (No. 2) Act 1987.",
  "extent": "E+W+S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 2 in force at 1.3.1988, see reg. 1(1)"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "1987 c. 51."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "1970 c. 24. Section 20(2) was substituted by section 21(4) of the Finance Act 1971 (c. 68) and paragraph (h) of that subsection was inserted by paragraph 3 of Schedule 3 to the Finance (No.2) Act 1987 (c. 51)."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "1986 c. 53."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "S.I. 1987/1765."
    }
  ],
  "outstanding_effects": [
    {
      "type": "words substituted",
      "affecting": "uksi/1994/1062",
      "affecting_title": "The Occupational and Personal Pension Schemes (Consequential Amendments) Regulations 1994"
    },
    {
      "type": "words inserted",
      "affecting": "uksi/1988/830",
      "affecting_title": "The Personal Pension Schemes (Miscellaneous Amendments) Regulations 1988"
    },
    {
      "type": "words substituted",
      "affecting": "uksi/1988/830",
      "affecting_title": "The Personal Pension Schemes (Miscellaneous Amendments) Regulations 1988"
    },
    {
      "type": "inserted",
      "affecting": "uksi/1988/830",
      "affecting_title": "The Personal Pension Schemes (Miscellaneous Amendments) Regulations 1988"
    },
    {
      "type": "amended",
      "affecting": "uksi/1995/35",
      "affecting_title": "The Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 1995"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1988/137/regulation/2",
    "retrieved_at": "2026-10-29T16:12:36.047018+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}