The Occupational and Personal Pension Schemes (Bankruptcy) Regulations (Northern Ireland) 2002

Prescribed pension arrangements

2.—(1) The arrangements prescribed for the purposes of Article 12(2)(h) of the 1999 Order (pension arrangements which are “approved pension arrangements”) are arrangements (including an annuity purchased for the purpose of giving effect to rights under any such arrangement)—

(a) to which—

(i) the holder of an office or employment has contributed by way of payments out of foreign emoluments which have been allowed as a deduction in computing the amount of those emoluments by virtue of section 192(3) of the Taxes Act (relief from tax for foreign emoluments);

(ii) Article 17A of the Convention set out in the Schedule to the Double Taxation Relief (Taxes on Income) (Republic of Ireland) Order 1976(1) (pension scheme contributions) applies;

(b) made with a scheme which is a retirement benefits scheme—

(i) approved by the Commissioners of Inland Revenue pursuant to section 590(2) or 591(3) of the Taxes Act (conditions for approval of retirement benefit schemes, and discretionary approval) and which is not an exempt approved scheme under section 592(4) of that Act, or

(ii) to which section 608 of the Taxes Act (superannuation funds approved before 6th April 1980) applies;

(c) to which section 595(1) of the Taxes Act (charge to tax in respect of certain sums paid by the employer etc.) does not apply by virtue of section 596(2)(b)(5) of that Act (exceptions from section 595);

(d) which are exempt or qualify for relief from, or are not liable to charge to, income tax by virtue of section 614(6), 615(7) or 616 of the Taxes Act (exemptions and reliefs in respect of income from investments etc. of certain pension schemes, exemptions from tax in respect of certain pensions, and other overseas pensions);

(e) made with—

(i) a public service pension scheme, or

(ii) an occupational pension scheme established under the auspices of a government department or by any person acting on behalf of the Crown;

(f) referred to in paragraph (b)(ii) of the definition of “approved” in section 630(1)(8) of the Taxes Act.

(2) Paragraph (1)(e) does not apply to an arrangement entered into on, or after, 14th March 1989 for the purpose of providing an employee with relevant benefits calculated by reference to so much of his annual remuneration as is in excess of the permitted maximum; and for these purposes “the permitted maximum” means the permitted maximum for any year of assessment during which such a person is a member of a scheme referred to in paragraph (1)(e) and shall be the figure specified—

(a) in section 590C(3)(9) of the Taxes Act for the years of assessment 1988-89 and 1989-90;

(b) by order in accordance with section 590C(6) of the Taxes Act for each year of assessment subsequent to 1989-90.

(3) For the purposes of this regulation—

(a) “foreign emoluments” has the meaning given in section 192(1) of the Taxes Act;

(b) “occupational pension scheme” has the meaning given in section 1 of the Pension Schemes (Northern Ireland) Act 1993(10);

(c) “public service pension scheme” has the meaning given in section 1 of the Pension Schemes (Northern Ireland) Act 1993;

(d) “year of assessment” has the meaning given in section 832(1) of the Taxes Act.

(1)

S.I. 1976/2151; Article 17A was inserted by Article I of the Protocol set out in the Schedule to S.I. 1995/764

(2)

Section 590 was amended by paragraph 18 of Schedule 3 to the Finance Act 1988 (c. 39), paragraph 3 of Schedule 6 to the Finance Act 1989 (c. 26) (see also paragraph 18(2) and (3) of that Schedule), sections 34 and 36(2) and (3) of the Finance Act 1991 (c. 31) and paragraph 2 of Schedule 10 to the Finance Act 1999

(3)

Section 591 was amended by paragraph 6 of Schedule 13 to the Finance Act 1988 (see also paragraph 1 of that Schedule), section 107 of the Finance Act 1994 (c. 9), section 59(2) of the Finance Act 1995 (c. 4) (see also section 60(1) of that Act) and paragraph 3 of Schedule 10 to the Finance Act 1999 (see also paragraph 18(1) and (3) of that Schedule)

(4)

Section 592 was amended by paragraph 5 of Schedule 6 to the Finance Act 1989 (see also paragraph 18(4) of that Schedule) and sections 107(1) and (6) and 112(1) and (6) of the Finance Act 1993 (c. 34) (see also sections 107(8) and 112(2) of that Act)

(5)

Section 596(2) was amended by paragraph 8(3) of Schedule 6 to the Finance Act 1989 (see also paragraph 18(5) of that Schedule)

(6)

Section 614 was amended by Part V(22) of Schedule 26 to the Finance Act 1994 and paragraph 34 of Schedule 14 to the Finance Act 1996 (c. 8) (see also section 105(1)(b) of that Act)

(7)

Section 615 was amended by section 2 of the Overseas Superannuation Act 1991 (c. 16) and paragraph 11 of Schedule 10 to the Finance Act 1999

(8)

Section 630 was renumbered as section 630(1) by paragraph 2(1) and (2) of Schedule 11 to the Finance Act 1995 and definition of “approved” was amended by paragraph 5(1) and (2) of Schedule 13 to the Finance Act 2000 (c. 17)

(9)

Section 590C was inserted by paragraph 4 of Schedule 6 to the Finance Act 1989 (see also paragraph 18(2) of that Schedule)

(10)

1993 c. 49