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Statutory Instruments

2014 No. 1449

Income Tax

The Registered Pension Schemes (Transfer of Sums and Assets) (Amendment) Regulations 2014

Made

4th June 2014

Laid before the House of Commons

6th June 2014

Coming into force

1st July 2014

The Commissioners for Her Majesty’s Revenue and Customs make the following Regulations in exercise of the powers conferred by section 169(1B) of the Finance Act 2004( 1 ) and now exercisable by them( 2 ), and section 282(A1)( 3 ) of that Act.

Citation, commencement and effect

1. —(1) These Regulations may be cited as the Registered Pension Schemes (Transfer of Sums and Assets) (Amendment) Regulations 2014 and come into force on 1st July 2014.

(2) These Regulations have effect in respect of transfers made on or after 6th April 2014.

Amendment of the Registered Pension Schemes (Transfer of Sums and Assets) Regulations 2006

2. —(1)Regulation 4 (scheme pension payable by insurance company) of the Registered Pension Schemes (Transfer of Sums and Assets) Regulations 2006( 4 ) is amended as follows.

(2) In table 1 (prescribed purposes – scheme pensions) insert at the end—

“ Paragraph 20(2), (3) and (5) of Schedule 36 (pre-commencement pensions)

To determine—

(i) whether an individual has pre-commencement pension rights,

(ii) whether an individual has a relevant existing pension. ”

Jim Harra

Simon Bowles

Two of the Commissioners for Her Majesty’s Revenue and Customs

4th June 2014

( 1 )

2004 c. 12 ; section 169(1B) was inserted by paragraph 36 of Schedule 10 to the Finance Act 2005 (c. 7) .

( 2 )

The functions of the Commissioners of Inland Revenue were transferred to the Commissioners for Her Majesty’s Revenue and Customs by section 5(1) of the Commissioners for Revenue and Customs Act 2005 (c. 11) . Section 50(1) of that Act provides that, in so far as it is appropriate in consequence of section 5, a reference, however expressed, to the Commissioners of Inland Revenue is to be read as a reference to the Commissioners for Her Majesty’s Revenue and Customs.

( 3 )

Section 282(A1) was inserted by section 75(1) of the Finance Act 2009 (c. 10) .

( 4 )

S.I. 2006/499 , amended by S.I. 2011/733 ; there are other amending instruments but none is relevant.

Status: This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
The Registered Pension Schemes (Transfer of Sums and Assets) (Amendment) Regulations 2014 (2014/1449)

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