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The Registered Pension Schemes (Authorised Member Payments) (No. 2) Regulations 2006

S.I. 2006/571 · Made 9 March 2006

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

INCOME TAX

Made 9th March 2006

Laid before the House of Commons 10th March 2006

Coming into force 6th April 2006

The Commissioners for Her Majesty’s Revenue and Customs make the following Regulations in exercise of the powers conferred by section 164(f) of the Finance Act 2004f1, and now exercisable by themf2

Annotations to the whole text

Footnotes

f1

2004 c. 12.

f2

The functions of the Commissioners of Inland Revenue (“the former Commissioners”) were transferred to the Commissioners for Her Majesty’s Revenue and Customs by section 5 of the Commissioners for Revenue and Customs Act 2005. See also section 50 of that Act in relation to the construction of references to the former Commissioners in other enactments

Contents

  1. 1Citation and commencement
  2. 2Payments which are authorised member payments
  3. Signature
  4. Explanatory note

1Citation and commencement

These Regulations may be cited as the Registered Pension Schemes (Authorised Member Payments) (No. 2) -Regulations 2006 and shall come into force on 6th April 2006.

2Payments which are authorised member payments

A payment which satisfies the conditions in article 38(1), 39(1), 40(1) or 41(1) of the Taxation of Pension Schemes (Transitional Provisions) Order 2006f1 is a payment which a registered pension scheme is authorised to make.

Signature

David Varney

Paul Gray

Two of the Commissioners for Her Majesty’s Revenue and Customs

9th March 2006

Explanatory note

(This note is not part of the Order)

This Order authorises registered pension schemes to make certain payments to which entitlement accrued before 6th April 2006. The effect is to exempt these payments, made on or after 6th April 2006, from the unauthorised payments charge imposed by section 209 of the Finance Act 2004 (c. 12).

This Order does not impose new costs on business.