# The Retirement Benefits Schemes (Restriction on Discretion to Approve) (Additional Voluntary Contributions) (Amendment) Regulations 2000, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations make amendments to the Retirement Benefits Schemes (Restriction on Discretion to Approve) (Additional Voluntary Contributions) Regulations 1993 (S.I. 1993/3016) (“the principal Regulations”). The principal Regulations impose restrictions relating to the repayment to an employee of surplus funds arising from the provision of benefits under schemes to which the employee pays additional voluntary contributions and also restrict the Board of Inland Revenue’s discretion to approve such schemes under section 591 of the Income and Corporation Taxes Act 1988 (c. 1).
Regulation 4 of the principal Regulations restricts the Board’s discretion in relation to schemes which are freestanding additional voluntary contributions schemes where the rules of the scheme do not require the administrator to comply with the requirements of the regulation and, so far as they concern such schemes, of regulation 6 of the principal Regulations (calculation of surplus funds). Regulation 5 of the principal Regulations makes similar provision in relation to schemes which are not freestanding additional voluntary contributions schemes.
The purpose of the amendments made by these Regulations is to ensure that, in general, the operation of the principal Regulations is not affected where a pension sharing order or provision is made in favour of an ex-spouse under the Welfare Reform and Pensions Act 1999 (c. 30) or the Welfare Reform and Pensions (Northern Ireland) Order 1999 (S.I. 1999/3147 (N.I. 11)). There is an exception in relation to an employee against whom such order or provision is made who would be a moderate earner if the order or provision were taken into account.
Regulation 1 provides for citation and commencement, and regulation 2 for interpretation.
Regulation 3 amends regulation 5(5) of the principal Regulations in consequence of the amendments made by regulation 4 of these Regulations.
Regulation 4 inserts a new regulation 5A in the principal Regulations providing for special rules for determining the meaning of “pension” and “pension equivalent” given by regulation 5(5) of the principal Regulations where a pension sharing order or provision has been made.
Regulation 5 amends regulation 6(7) of the principal Regulations in consequence of the amendments made by regulation 3 of these Regulations.

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Source: https://www.legislation.gov.uk/uksi/2000/1088/note (the official version)
Page: https://openlegislation.uk/retirement-benefits-schemes-restriction-on-discretion-to-approve-additional-voluntary-contributions-amendment-regulations-2000/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.