http://www.legislation.gov.uk/id/ukpga/2004/12/schedule/30

SCHEDULES

SCHEDULE 30Registered pension schemes: employer loans

Amount of unauthorised payment

Total unauthorised payments not to exceed amount of loan

11

If the aggregate amount of the unauthorised payments in relation to a loan under paragraphs 5 to 10 exceeds the amount of the loan when it was made, the excess is to be treated as not being an unauthorised payment.