The Registered Pension Schemes (Authorised Payments) Regulations 2006
| Jurisdiction | UK Non-devolved |
| Citation | SI 2006/209 |
2006 No. 209
INCOME TAX
The Registered Pension Schemes (Authorised Payments) Regulations 2006
Made 1st February 2006
Laid before the House of Commons 2nd February 2006
Coming into force 6th April 2006
The Commissioners for Her Majesty’s Revenue and Customs, in exercise of the powers conferred upon them by section 164(f) of the Finance Act 20041, and now exercisable by them, make the following Regulations:
Citation and commencement
1. These Regulations may be cited as the Registered Pension Schemes (Authorised Payments) Regulations 2006 and shall come into force on 6th April 2006.
Prescribed payments
2. For the purposes of section 164(f) of the Finance Act 2004 (authorised member payments), the following payments are prescribed—
(a) lump sum payments arising from the commutation of equivalent pension benefits pursuant to regulation 2(1A) of—
(i) the Occupational Pension Schemes (Assignment, Forfeiture, Bankruptcy etc.) Regulations 19972, or
(ii) the Occupational Pension Schemes (Assignment, Forfeiture, Bankruptcy etc.) Regulations (Northern Ireland) 19973,
(b) payments of state scheme premiums pursuant to—
(i) section 55 of the Pension Schemes Act 19934, or
(ii) section 51 of the Pension Schemes (Northern Ireland) Act 19935,
(c) payments of contributions equivalent premiums pursuant to—
(i) section 55(2) of the Pension Schemes Act 19936, or
(ii) section 51(2) of the Pension Schemes (Northern Ireland) Act 19937; and
(d) payments for restoring members' State scheme rights pursuant to—
(i) paragraph 5(3B)(b) of Schedule 2 to the Pension Schemes Act 19938, or
(ii) paragraph 5(3B)(b) of Schedule 1 to the Pension Schemes (Northern Ireland) Act 19939.
David Varney
Steve Lamey
Two of the Commissioners for Her Majesty’s Revenue and Customs
1st February 2006
(This note is not part of the Regulations)
These Regulations prescribe payments a registered pension scheme is authorised to make to or in respect of a member of a pension scheme under section 164(f) of the Finance Act 2004 (c. 12).
Regulation 1 provides for citation and commencement.
Regulation 2 sets out the payments which a registered pension scheme is authorised to make.
A regulatory impact assessment in respect of the provisions of Part 4 of the Finance Act 2004 and subordinate legislation under it was published by the Board of Inland Revenue on 8th April 2004, and is available on HM Revenue & Customs...
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