Regulation 17 Exemptions - generalC1

Part 3 of the 2004 Act does not apply to—

Section 231A of the 2004 Act applies to a scheme where—

In paragraph (1)—

• “enactment” includes an enactment comprised in, or in an instrument under, an Act of the Scottish Parliament;

• “pay-as-you-go scheme” means an occupational pension scheme under which there is no requirement for assets to be set aside in advance for the purpose of providing benefits under the scheme (disregarding any requirements relating to additional voluntary contributions);

• “public authority” means—

  1. (a)

     a Minister of the Crown (within the meaning of the Ministers of the Crown Act 1975) M3;

  2. (b)

     a government department (including any body or authority exercising statutory functions on behalf of the Crown);

  3. (c)

     the Scottish Ministers;

  4. (d)

     the National Assembly for Wales, or

  5. (e)

     a local authority;

• “relevant benefits” has the meaning given in section 612(1) of the Income and Corporation Taxes Act 1988 M4 (interpretation) or, from 6th April 2006, section 393B of the Income Tax (Earnings and Pensions) Act 2003 M5 (relevant benefits);

• “relevant statutory scheme” has the meaning given in section 611A(1) of the Income and Corporation Taxes Act 1988 M6 (definition of relevant statutory scheme);

• “section 615(6) scheme” means a scheme with such a superannuation fund as is mentioned in section 615(6) of the Income and Corporation Taxes Act 1988 M7 (funds for the provision of benefits in respect of employment outside the United Kingdom);

• F16“a section of a scheme” means a section of a multi-employer scheme where a specified part or proportion of the assets of the scheme is attributable to that section and cannot be used for the purposes of any other section of the scheme;

• “a tax approved scheme” means a scheme which is approved or was formerly approved under section 590 or 591 of the Income and Corporation Taxes Act 1988 M8 (approval of retirement benefit schemes) or in respect of which an application for such approval has been duly made but has not been determined;

• “a tax registered scheme” means a scheme which is, or is treated as, registered under Chapter 2 of Part 4 of the Finance Act 2004 (registration of pension schemes).

In paragraph (1A) “recovery period” means the period specified in the scheme’s recovery plan in accordance with section 226(2)(b) of the 2004 Act;

In paragraph (2), “local authority” means—

Where Part 3 of the 2004 Act ceases to apply to a scheme to which it previously applied, because the scheme satisfies any of the criteria for exemption in paragraph (1), that does not affect any rights or obligations arising before Part 3 ceased to apply.