Regulation 5 Board’s discretion to refuse approval: prescribed descriptions of retirement benefits scheme

The descriptions of eligible scheme which are prescribed in respect of the Board’s discretion to refuse approval under Schedule 23ZA are all descriptions of eligible scheme other than a simplified defined contribution scheme.

In this regulation “simplified defined contribution scheme” has the meaning given by regulation 2 of the Retirement Benefits Schemes (Restriction on Discretion to Approve) (Additional Voluntary Contributions) Regulations 1993^f1.