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The Taxation of Pension Schemes (Transitional Provisions) Order 2006
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- UK Statutory Instruments
- 2006 No. 572
- Article 27
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Contracts approved under section 621(1)(b) of ICTA
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27.—(1) This article applies in the case of an individual who, immediately before 6th April 2006, had rights under a contract which had been approved under section 621(1)(b) of ICTA.
(2) Schedule 36 shall be modified as follows.
(3) In paragraph 1(1) (deemed registration of existing schemes) after paragraph (e) insert—
“(ea)a contract approved under section 621(1)(b) of ICTA,”.
(4) In paragraph 4 after sub-paragraph (4) add
“(4A) If the pension scheme is within paragraph 1(1)(ea) immediately before that date, the trustee or trustees of the pension scheme, or the insurance company which is party to the contract in which the pension scheme is comprised, is or are to be treated as becoming the scheme administrator.”.
(5) In paragraph 40(3) (members' contributions to pre-commencement retirement annuity contracts) after paragraph (a) insert—
“(aa)a contract approved under section 621(1)(b) of ICTA, where article 27(2) of the Taxation of Pension Schemes (Transitional Provisions) Order 2006 applies to the individual in question, or”.
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