This is the original version (as it was originally enacted).
(1)Section 590 of the Taxes Act 1988 (conditions for approval of retirement benefits schemes) shall be amended as follows.
(2)In subsection (3)(a) for the words “or, if the employee is a woman, 55, and not later than 70” there shall be substituted the words “and not later than 75”.
(3)The following subsection shall be inserted after subsection (4)—
“(4A)In subsection (3)(c) above “benefits” does not include any benefits for whose payment the scheme makes provision in pursuance of any obligation imposed by legislation relating to social security.”
(4)This section shall have effect in relation to a scheme not approved by the Board before the day on which this Act is passed.
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