The Occupational Pension Schemes (Republic of Ireland Schemes Exemption (Revocation) and Tax Exempt Schemes (Miscellaneous Amendments)) Regulations 2006

Amendment of the Occupational Pension Schemes (Cross-border Activities) Regulations 2005

9.—(1) The Occupational Pension Schemes (Cross-border Activities) Regulations 2005 are amended as follows.

(2) In paragraph (1) of regulation 2 (interpretation), after the definition of “seconded worker”, insert—

““section 615 scheme” means a scheme which has such a superannuation fund as is mentioned in section 615(6) of the Income and Corporation Taxes Act 1988 (exemption from tax in respect of certain pensions);”.

(3) In regulation 5 (applications for general authorisation to accept contributions from European employers: established schemes which are carrying on cross-border activity)—

(a) at the beginning of paragraph (2), insert “Subject to paragraph (3),”; and

(b) after paragraph (2), add—

“(3) Where—

(a) the trustees or managers of a section 615 scheme make such an application on or before 29th March 2006;

(b) that application is made in a form which—

(i) includes the full name of the scheme; and

(ii) in the case of—

(aa) a money purchase scheme, provides as much of the information specified in paragraph (2)(a) as is readily available to those trustees or managers on the day on which the application is made; or

(bb) a scheme which is not a money purchase scheme, provides as much of the information specified in paragraph (2)(b) as is readily available to those trustees or managers on the day on which the application is made; and

(c) those trustees or managers provide all of the remaining information specified in paragraph (2)(a) or (b), as the case may be, on or before 15th May 2006;

that application shall be deemed to have been made on the day on or before 29th March 2006 on which the application was first made.”.

(4) In regulation 10 (applications for approval in relation to particular European employer: established schemes which are carrying on cross-border activity)—

(a) at the beginning of paragraph (2), insert “Subject to paragraph (3),”; and

(b) after paragraph (2), add—

“(3) Where—

(a) the trustees or managers of a section 615 scheme make such an application on or before 29th March 2006;

(b) that application is made in a form which—

(i) includes the information specified in section 289(1)(a) to (c); and

(ii) in the case of—

(aa) a money purchase scheme, provides as much of the information specified in paragraph (2)(a) as is readily available to those trustees or managers on the day on which the notice of intention is given; or

(bb) a scheme which is not a money purchase scheme, provides as much of the information specified in paragraph (2)(b) as is readily available to those trustees or managers on the day on which the notice of intention is given; and

(c) those trustees or managers provide all of the remaining information specified in paragraph (2)(a) or (b), as the case may be, on or before 15th May 2006;

that application shall be deemed to have been made on the day on or before 29th March 2006 on which the notice of intention was first given.”.