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Changes over time for: Paragraph 10


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Version Superseded: 01/08/2022
Status:
Point in time view as at 31/10/2006.
Changes to legislation:
There are currently no known outstanding effects for the Finance Act 2004, Paragraph 10.

Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
10[(1)]For the purposes of benefit crystallisation event 3 “excepted circumstances” means—U.K.
(a)that at the time when the annual rate of the individual’s pension is increased there are at least 50 pensioner members of the pension scheme, and
[(b)that the individual is one of a class of at least 20 pensioner members of the pension scheme, and all the scheme pensions being paid under the pension scheme to pensioner members of that class are at that time increased at the same rate.]
[(2)A class may consist of all the pensioner members of the pension scheme.
(3)Sub-paragraph (4) applies where—
(a)the annual rate of the individual's pension is increased in excepted circumstances (“the excepted increase”),
(b)before the end of the period of 12 months beginning with the date of the excepted increase, the annual rate of the individual's pension is increased in circumstances which would (apart from that sub-paragraph) be excepted circumstances (“the subsequent increase”), and
(c)the class by virtue of which sub-paragraph (1)(b) is satisfied on the subsequent increase (“the new class”) is not the class by virtue of which it was satisfied on the excepted increase.
(4)If the purpose, or one of the main purposes, of the individual's being included in the new class is to increase the annual rate of the individual's pension without benefit crystallisation event 3 occurring, the subsequent increase is not in excepted circumstances.]
Textual Amendments
Modifications etc. (not altering text)
Commencement Information
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