Statutory Instrument 2006 No. 571

The Registered Pension Schemes (Authorised Member Payments) (No. 2) Regulations 2006

(The document as of February, 2008)

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STATUTORY INSTRUMENTS

2006 No. 571

INCOME TAX

The Registered Pension Schemes (Authorised Member Payments) (No. 2) Regulations 2006

	Made	9th March 2006
	Laid before the House of Commons	10th March 2006
	Coming into force	6th April 2006

The Commissioners for Her Majesty's Revenue and Customs make the following Regulations in exercise of the powers conferred by section 164(f) of the Finance Act 2004[1], and now exercisable by them[2]

Citation and commencement
1.These Regulations may be cited as the Registered Pension Schemes (Authorised Member Payments) (No. 2) -Regulations 2006 and shall come into force on 6th April 2006.

Payments which are authorised member payments
2.A payment which satisfies the conditions in article 38(1), 39(1), 40(1) or 41(1)[a] of the Taxation of Pension Schemes (Transitional Provisions) Order 2006[3] is a payment which a registered pension scheme is authorised to make.

David Varney

Paul Gray
Two of the Commissioners for Her Majesty's Revenue and Customs

9th March 2006

EXPLANATORY NOTE

(This note is not part of the Order)

This Order authorises registered pension schemes to make certain payments to which entitlement accrued before 6th April 2006. The effect is to exempt these payments, made on or after 6th April 2006, from the unauthorised payments charge imposed by section 209 of the Finance Act 2004 (c. 12).

This Order does not impose new costs on business.

Notes:

[1]2004 c. 12.back

[2]The functions of the Commissioners of Inland Revenue ("the former Commissioners") were transferred to the Commissioners for Her Majesty's Revenue and Customs by section 5 of the Commissioners for Revenue and Customs Act 2005. See also section 50 of that Act in relation to the construction of references to the former Commissioners in other enactmentsback

[3]S.I. 2006/572.back

[a]Amended by Correction Slip.Page 1, regulation 2, line one; "in article 39(1), 40(1), 41(1) or 42(1)" should read as "in article 38(1), 39(1), 40(1) or 41(1)".back

ISBN0 11 074223 0

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