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8. In regulation 15 of the Pension Sharing (Implementation and Discharge of Liability) Regulations 2000(1) (disqualification as a destination for pension credit – annuity contracts and insurance policies)—
(a)in paragraph (4)—
(i)omit the word “either”, and
(ii)after sub-paragraph (a), insert—
“(aa)the condition set out in paragraph (5A) is satisfied; or”, and
(b)after paragraph (5), insert—
“(5A) The condition referred to in paragraph (4)(aa) is that the lump sum payment is—
(a)made by a registered pension scheme (within the meaning given in section 150(2) of the Finance Act 2004 (meaning of “pension scheme”));
(b)a payment that is described in Part 2 of the Registered Pension Schemes (Authorised Payments) Regulations 2009; and
(c)made to or in respect of a member.”.
S.I. 2000/1053. Relevant amending instrument is S.I. 2006/744.
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