Statutory Instruments
2006 No. 1162
INCOME TAX
The Income Tax (Pension Funds Pooling Schemes) (Amendment) Regulations 2006
Made
24th April 2006
Laid before the House of Commons
25th April 2006
Coming into force
16th May 2006
The Treasury, in exercise of the powers conferred upon them by section 469(7) and (8) of the Income and Corporation Taxes Act 1988( 1 ) make the following Regulations:
Citation and commencement
1. These Regulations may be cited as the Income Tax (Pension Funds Pooling Schemes) (Amendment) Regulations 2006 and shall come into force on 16th May 2006.
Amendment to the Income Tax (Pension Funds Pooling Schemes) Regulations 1996
2. —(1) Amend the Income Tax (Pension Funds Pooling Schemes) Regulations 1996( 2 ) as follows.
(2) In regulation 4(2) (description of a pension funds pooling scheme) at the beginning insert “Subject to paragraph (2A),”.
(3) After regulation 4(2) insert—
“ (2A) Paragraph (2) does not apply if the unit trust scheme ceases to have the characteristics specified in paragraph (3) solely because it is wound up. ” .
Vernon Coaker
Dave Watts
Two of the Lords Commissioners of Her Majesty’s Treasury
24th April 2006
1988 c. 1 . Subsection (7) was amended by section 432(1) of, and paragraph 4 of Schedule 20 to, the Financial Services and Markets Act 2000 (c. 8) .
S.I. 1996/1585 .