F1PART IVA REQUIREMENTS RELATING TO PENSION CREDIT BENEFIT

Annotations:
Amendments (Textual)
F1

Pt. 4A Chapters 1, 2 (ss. 97A-97Q) inserted (1.12.1999 for certain purposes and otherwise 1.12.2000) by S.I. 1999/3147 (N.I. 11), arts. 1(5)(a), 34; S.R. 2000/133, art. 2(3), Sch. Pt. IV

CHAPTER II TRANSFER VALUES

97L Variation of the amount required to be used.

1

Regulations may make provision for the amount required to be used under section 97F(1) to be increased or reduced in prescribed circumstances.

2

Without prejudice to the generality of subsection (1), the circumstances which may be prescribed include—

a

failure by the trustees or managers of a qualifying scheme to comply with a notice under section 97F(1) within 6 months of the date by reference to which the amount of the cash equivalent falls to be determined, and

b

the state of funding of a qualifying scheme.

3

Regulations under subsection (1) may have the effect of extinguishing an obligation under section 97F(1).