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SCHEDULES

SCHEDULE 15AU.K. CONTRACTUAL SAVINGS SCHEMES

Treasury specificationsU.K.

4(1)The requirements which may be specified under section 326(3)(b), (4)(b) or (5)(b) are such requirements as the Treasury think fit.

(2)In particular, the requirements may relate to—

(a)the descriptions of individuals who may enter into contracts under a scheme;

(b)the contributions to be paid by individuals;

(c)the sums to be paid or repaid to individuals.

(3)The requirements which may be specified under any of the relevant provisions may be different from those specified under any of the other relevant provisions; and the relevant provisions are section 326(3)(b), (4)(b) and (5)(b).

5(1)Where a specification has been made under section 326(3)(b), (4)(b) or (5)(b) the Treasury may—

(a)withdraw the specification and any certification made by reference to the specification, and

(b)stipulate the date on which the withdrawal is to become effective.

(2)No withdrawal under this paragraph shall affect—

(a)the operation of the scheme before the stipulated date, or

(b)any contract entered into before that date.

(3)No withdrawal under this paragraph shall be effective unless the Treasury—

(a)send a notice by post to each relevant body informing it of the withdrawal, and

(b)do so not less than 28 days before the stipulated date;

and a relevant body is a society or institution authorised (whether unconditionally or subject to conditions being met) to enter into contracts under the scheme concerned.

6(1)Where a specification has been made under section 326(3)(b), (4)(b) or (5)(b) the Treasury may—

(a)vary the specification,

(b)withdraw any certification made by reference to the specification obtaining before the variation, and

(c)stipulate the date on which the variation and withdrawal are to become effective;

and the Treasury may at any time certify a scheme as fulfilling the requirements obtaining after the variation.

(2)No variation and withdrawal under this paragraph shall affect—

(a)the operation of the scheme before the stipulated date, or

(b)any contract entered into before that date.

(3)No variation and withdrawal under this paragraph shall be effective unless the Treasury—

(a)send a notice by post to each relevant body informing it of the variation and withdrawal, and

(b)do so not less than 28 days before the stipulated date;

and a relevant body is a society or institution authorised (whether unconditionally or subject to conditions being met) to enter into contracts under the scheme concerned.