# The Personal Pension Schemes (Transfer Payments) Regulations 1988, Regulation 2: Interpretation


In these Regulations, unless the context otherwise requires —
“the Act” means the Income and Corporation Taxes Act 1988;
“appropriate personal pension scheme” shall be construed in accordance with sections 1(8) and 84(1) of the Social Security Act 1986;
“Board” means the Commissioners of Inland Revenue;
“cash equivalent” in relation to benefits means the actuarial value of benefits which have accrued to, or in respect of, an individual at the relevant date;
“controlling director” means a director within the meaning of section 612(1) of the Act to whom subsection (5)(b) of section 417 of the Act (read with subsections (3), (4) and (6) of that section) applies;
“guaranteed minimum pension” shall be construed in accordance with section 26(2) of the Social Security Pensions Act 1975;
“personal pension scheme” means a personal pension scheme approved, or provisionally approved, by the Board under Chapter IV of Part XIV of the Act;
“personal pension protected rights premium” means a premium payable under section 5(4) of the Social Security Act 1986;
“protected rights” shall be construed in accordance with Schedule 1 to the Social Security Act 1986;
“the relevant date” shall be construed in accordance with paragraph 12 of Schedule 1A to the Social Security Pensions Act 1975;
“remuneration” shall be construed in accordance with section 612(1) of the Act;
“retirement annuity contract or trust scheme” means a retirement annuity contract or trust scheme approved by the Board under Chapter III of Part XIV of the Act;
“retirement benefits scheme” means a retirement benefits scheme approved by the Board under Chapter I of Part XIV of the Act;
“statutory scheme” has the meaning given to it by section 612(1) of the Act.

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Source: https://www.legislation.gov.uk/uksi/1988/1014/regulation/2 (the official version)
Page: https://openlegislation.uk/personal-pension-schemes-transfer-payments-regulations-1988/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.