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Regulation 3 Requirements to be satisfied by receiving scheme

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

A transfer payment may be made by a paying scheme to —

(a)

an appropriate personal pension scheme, a money purchase contracted-out scheme or a section 49 money purchase scheme, where that scheme satisfies the requirement specified in paragraph 1 of Schedule 3; or

(b)

a salary related contracted-out scheme or a section 49 salary related scheme, where that scheme satisfies the requirement specified in paragraph 2 of Schedule 3.