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Changes over time for: Paragraph 17
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Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 17/12/2014
Status:
Point in time view as at 19/07/2011.
Changes to legislation:
There are currently no known outstanding effects for the Finance Act 2004, Paragraph 17.
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Changes to Legislation
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17[(1)For the purposes of this Part a lump sum death benefit is a drawdown pension fund lump sum death benefit if—U.K.
(a)it is paid in respect of income withdrawal to which the member was entitled under an arrangement at the date of the member's death, and
(b)it is not a charity lump sum death benefit.]
(2)A lump sum death benefit is also [a drawdown pension fund lump sum death benefit] if—
(a)it is paid on the death of a dependant of the member,
(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(c)it is paid in respect of dependants' income withdrawal to which the dependant was entitled at the date of the dependant’s death in respect of an arrangement relating to the member[, and
(d)it is not a charity lump sum death benefit.]
(3)But if the amount of a lump sum falling within sub-paragraph (1) or (2) exceeds the permitted maximum, the excess is not [a drawdown pension fund lump sum death benefit].
(4)The permitted maximum is the aggregate of—
(a)the amount of the sums, and
(b)the market value of the assets,
representing the member’s or dependant’s [drawdown pension fund] in respect of the arrangement immediately before the payment is made.
Textual Amendments
Modifications etc. (not altering text)
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