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(1)The Board shall not approve a personal pension scheme which makes provision for any benefit other than—
(a)the payment of an annuity satisfying the conditions in section 22 below;
(b)the payment to a member of a lump sum satisfying the conditions in section 23 below;
(c)the payment after the death of a member of an annuity satisfying the conditions in section 24 below;
(d)the payment on the death of a member of a lump sum satisfying the conditions in section 25 below;
(e)the payment on the death of a member of a lump sum satisfying the conditions in section 26 below.
(2)Subsection (1) above shall not prevent the approval of a scheme which makes provision for insurance against a risk relating to the non-payment of contributions.
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