Income and Corporation Taxes Act 1988

630 Interpretation. U.K.

M1 In this Chapter—

• “approved”—

  (a)

  in relation to a scheme, means approved by the Board under this Chapter; and

  (b)

  in relation to arrangements, means made in accordance with a scheme which is for the time being, and was when the arrangements were made, an approved scheme;

  but does not refer to cases in which approval has been withdrawn;

• “authorised insurance company” means either—

  (a)

  a person authorised under section 3 or 4 of the M2 Insurance Companies Act 1982 to carry on long term business and acting through a branch or office in the United Kingdom; or

[F1 (b) a friendly society within the meaning of the Friendly Societies Act 1992 (including any society that by virtue of section 96(2) of that Act is to be treated as a registered friendly society within the meaning of that Act);]

• “member”, in relation to a personal pension scheme, means an individual who makes arrangements in accordance with the scheme;

• “personal pension arrangements” means arrangements made by an individual in accordance with a personal pension scheme;

• “personal pension scheme” means a scheme whose sole purpose is the provision of annuities or lump sums under arrangements made by individuals in accordance with the scheme;

• “scheme administrator” means the person referred to in section 638(1).

• [F2 and references to an employee or to an employer include references to the holder of an office or to the person under whom an office is held.]

Textual Amendments

F1 Words in s. 630 para.(b) of the definition of “authorised insurance company” substituted (19.2.1993) by Finance (No. 2) Act 1992 (c. 48), s. 56, Sch. 9 para.17; S.I. 1993/236, art.2

F2 1988(F) s.55(1)—from 1July 1988.

Marginal Citations

M1 Source-1987 (No.2) s.18

M2 1982 c. 50.