Finance Act 1989

19 (1) This Part of this Schedule shall be deemed to have come into force on 14thMarch 1989 and, subject to sub-paragraphs (2) to (4) below, applies inrelation to any retirement benefits scheme (within the meaning of Chapter Iof Part XIV of the Taxes Act 1988) approved by the Board before the day onwhich this Act is passed. U.K.

(2) The Board may by regulations provide that, in circumstances prescribed inthe regulations, this Part of this Schedule or any provision of it shall notapply or shall apply with such modifications as may be so prescribed.

(3) Regulations under sub-paragraph (2) above—

(a) may include provision authorising the Board to direct that this Part ofthis Schedule or any provision of it shall not apply in any particular casewhere in the opinion of the Board the facts are such that its applicationwould not be appropriate;

(b) may take effect (and may authorise any direction given under them to takeeffect) as from 14th March 1989 or any later date;

(c) may make such supplementary provision as appears to the Board to benecessary or expedient.

(4) This Part of this Schedule shall not apply to a scheme if, before the endof 1989, the administrator of the scheme gives written notice to the Boardthat it is not to apply.

(5) Where a notice is given to the Board under sub-paragraph (4) above, thescheme shall cease to be approved—

(a) if it came into existence before 14th March 1989, with effect from 1stJune 1989 or (if later) the date with effect from which it was approved;

(b) if it came into existence on or after 14th March 1989, with effect fromthe date with effect from which it was approved.

Modifications etc. (not altering text)

C1 For regulations see Part III Vol. 5 (under “Retirement benefit schemes: tax relief on contributions”)