[F1554Z16Application etcU.K.
(1)This Chapter applies if there is an undertaking (“the relevant undertaking”) that a contribution to which subsection (2) would apply will be paid.
(2)This subsection applies to a contribution if—
(a)the contribution is paid to an arrangement which is not a registered pension scheme,
(b)in connection with that arrangement (directly or indirectly), relevant benefits are to be provided (directly or indirectly) out of the contribution by a relevant third person,
(c)the provision of the relevant benefits would be a relevant step, and
(d)the contribution is neither a tax-relieved contribution nor tax-exempt provision.
(3)In subsection (2)—
“relevant benefits” has the same meaning as in Chapter 2 of Part 6, but ignoring section 393B(2)(a),
“relevant third person” means a person within section 554A(7)(a) to (c) (ignoring this Chapter), and
“tax-exempt provision” and “tax-relieved contribution” have the meaning given by paragraph 3(3) and (4) of Schedule 34 to FA 2004.
(4)In this Chapter references to an undertaking include references to—
(a)an undertaking which is not legally enforceable, and
(b)an undertaking which is to be performed only on or following the meeting of a condition (including a condition which might never be met).]
Textual Amendments
F1Pt. 7A inserted (with effect in accordance with Sch. 2 paras. 52-59 of the amending Act) by Finance Act 2011 (c. 11), Sch. 2 para. 1