{
  "url": "https://openlegislation.uk/registered-pension-schemes-authorised-member-payments-regulations-2007/note",
  "json_url": "https://openlegislation.uk/registered-pension-schemes-authorised-member-payments-regulations-2007/note.json",
  "legislation": "uksi/2007/3532",
  "legislation_title": "The Registered Pension Schemes (Authorised Member Payments) Regulations 2007",
  "legislation_url": "https://openlegislation.uk/registered-pension-schemes-authorised-member-payments-regulations-2007",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nIn the Finance Act 2004 (c. 12), Part 4 makes new provision for pension schemes; and section 164 of that Act provides that the only payments a registered pension scheme is authorised to make to or in respect of a member are those specified in that section. Section 164(f) of the Finance Act 2004 provides for authorised member payments to include payments of a description prescribed by regulations.\nThese Regulations exercise that power to prescribe payments made to with-profits policyholders by a registered pension scheme. The payments must be made as part of a scheme which makes a reattribution of the inherited estate of a person who carries on with-profits business, and which is made or sanctioned by a court of competent jurisdiction. The payment must be made to those with-profits policyholders in exchange for rights and interests over the inherited estate given up by those policyholders, and must not reduce the total value of the sums and assets held for the purposes of the registered pension scheme. These prescribed payments accordingly become authorised member payments for the purposes of Part 4 of the Finance Act 2004.\nA full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2007/3532/note",
    "retrieved_at": "2026-10-29T03:39:15.012862+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}