Paragraph 6 I1

England, Wales and Scotland

(1)

The following are qualifying arrangements for the purposes of this Schedule—

(a)

an occupational pension scheme,

(b)

a personal pension scheme,

(c)

an appropriate annuity contract,

(d)

an appropriate policy of insurance, and

(e)

an overseas arrangement within the meaning of the M1Contracting-out (Transfer and Transfer Payment) Regulations 1996.

(2)

An annuity contract or policy of insurance is appropriate for the purposes of sub-paragraph (1) if, at the time it is entered into or taken out, the F1insurer with which it is entered into or taken out—

(a)

is carrying on F2... long-term insurance business in the United Kingdom F3..., and

(b)

satisfies such requirements as the Secretary of State may prescribe by regulations.

F4(3)

“Insurer” and “long-term insurance business” have the meaning given in section 180A of the Pension Schemes Act 1993.

Annotations

Textual amendments

F1: Word in Sch. 5 para. 6(2) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 159(2)(a)
F2: Word in Sch. 5 para. 6(2)(a) repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 159(2)(b)
F3: Words in Sch. 5 para. 6(2)(a) omitted (31.12.2020) by virtue of The Occupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/192), regs. 1, 4(2); 2020 c. 1, Sch. 5 para. 1(1)
F4: Sch. 5 para. 6(3) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 159(3)

Marginal citations

M1: S.I. 1996/1462.

Commencement

I1: Sch. 5 para. 6 wholly in force at 1.12.2000; Sch. 5 para. 6 in force for certain purposes at Royal Assent see s. 89(1)(5); Sch. 5 para. 6 in force at 1.12.2000 insofar as not already in force by S.I. 2000/1047, art. 2(2)(d), Sch. Pt. IV