# The Personal Pension Schemes (Conversion of Retirement Benefits Schemes) Regulations 2001, Regulation 3: Application to convert eligible scheme to personal pension scheme


(1) The trustees of a qualifying scheme may apply to the Board for approval of the scheme as a personal pension scheme if the conditions prescribed in paragraphs (2) and (3) are satisfied.
(2) The first condition is that regulation 7 (valuation of prescribed member’s benefits) has been complied with in respect of each prescribed member of the scheme.
(3) The second condition is that the value of the fund of a prescribed member, who is to be a continuing member of the scheme, does not exceed the permitted amount.

---
Source: https://www.legislation.gov.uk/uksi/2001/118/regulation/3 (the official version)
Page: https://openlegislation.uk/personal-pension-schemes-conversion-of-retirement-benefits-schemes-regulations-2001/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.