Point in time view as at 17/12/2014.
Income Tax (Earnings and Pensions) Act 2003, Paragraph 72 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
72(1)The trust instrument must require the trustees—U.K.
(a)to dispose of a participant’s plan shares, and
(b)to deal with any right conferred in respect of any of a participant’s plan shares to be allotted other shares, securities or rights of any description,
only in accordance with a direction given by or on behalf of the participant.
(2)Sub-paragraph (1) is subject to—
(a)paragraph 73 (duty not to dispose of plan shares), and
(b)any provision in the plan made in accordance with paragraph 79 (meeting by trustees of PAYE obligations).
(3)The plan may provide for participants to give such general directions, to such effect and in such terms, as are specified in the plan.
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