Paragraph 3 F1
Trustees may make a sub-fund election only if—
(a)
Conditions 1 to 4 are satisfied when the election is made, and
(b)
Conditions 2 to 4 were satisfied throughout the period beginning with the time when the election is to be treated as having taken effect and ending immediately before the election is made.
Annotations
Textual amendments
- F1
Sch. 4ZA inserted (with effect in accordance with Sch. 12 para. 6(3) of the amending Act) by Finance Act 2006 (c. 25), Sch. 12 para. 6(2)