PART IX MISCELLANEOUS AND SUPPLEMENTARY

Interpretation

271AF1Qualifying non-UK pension scheme

1

For the purposes of this Act “qualifying non-UK pension scheme” means a pension scheme (other than a registered pension scheme) which—

a

is established in a country or territory outside the United Kingdom, and

b

satisfies any requirements prescribed for the purposes of this section by regulations made by the Commissioners for Her Majesty's Revenue and Customs.

2

“Pension scheme” has the same meaning as in Part 4 of the Finance Act 2004 (see section 150 of that Act).

3

Regulations under this section may include provision having effect in relation to times before the regulations are made if it does not increase any person's liability to tax.

4

The power to make regulations under this section is exercisable by statutory instrument, which is subject to annulment in pursuance of a resolution of the House of Commons.