{
  "url": "https://openlegislation.uk/personal-pension-schemes-appropriate-schemes-regulations-1988/regulation-3",
  "json_url": "https://openlegislation.uk/personal-pension-schemes-appropriate-schemes-regulations-1988/regulation-3.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/3",
  "kind": "regulation",
  "number": "3",
  "heading": "Persons who and bodies which may establish schemes",
  "text": "(1) Without prejudice to any other requirements of the Act or regulations made under it—\n(a) an arrangement such as is described in regulation 2(1)(a) which is established by a Friendly Society can be an appropriate scheme only if paragraph (2) applies to that Friendly Society; and\n(b) an arrangement such as is described in regulation 2(1)(c) can be an appropriate scheme only if it is established by a person to whom or a body to which paragraph (3) applies.\n(2) This paragraph applies to a Friendly Society which—\n(a) is authorised by virtue of Chapter III of Part I of the Financial Services Act 1986; and\n(b) has disclosed in its audited accounts a contributions income of not less than £300,000 in the year 1986 and £400,000 in the year 1987.\n(3) This paragraph applies to—\n(a) a building society as defined in the Building Societies Act 1986;\n(b) a Pension Company within the meaning of the Building Societies (Designation of Pension Companies) Order 1987which is an associated body of a building society within the meaning of section 18(17) of the Building Societies Act 1986;\n(c) an institution authorised under Part I of the Banking Act 1987.",
  "extent": "E+W+S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 3 in force at 1.3.1988, see reg. 1(1)"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "S.I. 1987/1871."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "1987 c. 22."
    }
  ],
  "outstanding_effects": [
    {
      "type": "amended",
      "affecting": "uksi/1988/832",
      "affecting_title": "The County of Gwynedd (Electoral Arrangements) Order 1988"
    },
    {
      "type": "added",
      "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": "substituted",
      "affecting": "uksi/1995/35",
      "affecting_title": "The Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 1995"
    },
    {
      "type": "amended",
      "affecting": "uksi/1990/1141",
      "affecting_title": "The Personal and Occupational Pension Schemes (Miscellaneous Amendments) Regulations 1990"
    },
    {
      "type": "modified",
      "affecting": "uksi/1992/3218",
      "affecting_title": "The Banking Coordination (Second Council Directive) Regulations 1992 (revoked)"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1988/137/regulation/3",
    "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."
}