Welfare Reform and Pensions Act 1999

6 (1) The following are qualifying arrangements for the purposes of this Schedule— E+W+S

(a) an occupational pension scheme,

(b) a personal pension scheme,

(c) an appropriate annuity contract,

(d) an appropriate policy of insurance, and

(e) an overseas arrangement within the meaning of the M1 Contracting-out (Transfer and Transfer Payment) Regulations 1996.

(2) An annuity contract or policy of insurance is appropriate for the purposes of sub-paragraph (1) if, at the time it is entered into or taken out, the [F1 insurer] with which it is entered into or taken out—

(a) is carrying on F2 . . . long-term insurance business in the United Kingdom or any other member State, and

(b) satisfies such requirements as the Secretary of State may prescribe by regulations.

[F3 (3) “Insurer” and “long-term insurance business” have the meaning given in section 180A of the Pension Schemes Act 1993.]

Textual Amendments

F1 Word in Sch. 5 para. 6(2) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 159(2)(a)

F2 Word in Sch. 5 para. 6(2)(a) repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 159(2)(b)

F3 Sch. 5 para. 6(3) repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 159(3)

Commencement Information

I1 Sch. 5 para. 6 wholly in force at 1.12.2000; Sch. 5 para. 6 in force for certain purposes at Royal Assent see s. 89(1)(5); Sch. 5 para. 6 in force at 1.12.2000 insofar as not already in force by S.I. 2000/1047, art. 2(2)(d), Sch. Pt. IV

Marginal Citations

M1 S.I. 1996/1462.