[F164C Reserve powers in relation to non-complying schemes.N.I.
(1)This section applies to—
(a)any occupational pension scheme, other than a public service pension scheme, and
(b)any personal pension scheme.
(2)If any scheme to which this section applies does not comply with a requirement prescribed under section 64B and there are any persons who—
(a)have safeguarded rights under the scheme, or
(b)are entitled to any benefit giving effect to such rights under the scheme,
the Inland Revenue may direct the trustees or managers of the scheme to take or refrain from taking such steps as they may specify in writing for the purpose of safeguarding the rights of persons falling within paragraph (a) or (b).
(3)A direction under subsection (2) shall be final and binding on the trustees or managers to whom the direction is given and any person claiming under them.
(4)An appeal on a point of law shall lie to the High Court from a direction under subsection (2) at the instance of the trustees or managers, or any person claiming under them.
(5)A direction under subsection (2) shall be enforceable in a county court, as if it were an order of that court.]
Textual Amendments
F1Pt. IIIA (ss. 64A-64D) inserted (1.12.1999 for certain purposes and otherwise 1.12.2000) by S.I. 1999/3147 (N.I. 11), arts. 1(5)(a), 33; S.R. 2000/133, art. 2(3), Sch. Pt. IV