18(1)Schedule 35 to FA 2004 is amended as follows.U.K.
(2)Paragraph 20 (life assurance: meaning of “pension business”) is amended as follows.
(3)In the section 431B of ICTA substituted by that paragraph, in subsection (2)—
(a)after “registered pension scheme” (where first occurring) insert “ by virtue of the withdrawal of registration of the pension scheme under section 157 of the Finance Act 2004 ”;
(b)after “in which the pension scheme” insert “ so ”.
(4)In that section, insert at the end—
“(3)Where—
(a)immediately before 6th April 2006 an annuity contract falls within any of the descriptions of contracts specified in subsection (2) of this section as it had effect immediately before that date, but
(b)on or after that date the contract does not fall to be regarded for the purposes of this section as having been entered into for the purposes of a registered pension scheme,
the contract is to be treated for the purposes of this section as having been entered into for such purposes.”.
F1(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(7)The preceding provisions of this paragraph come into force on 6th April 2006.
Textual Amendments
F1Sch. 9 para. 18(5)(6) repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 27 Pt. 2(7)
Commencement Information
I1Sch. 9 para. 18 wholly in force at 6.4.2006; Sch. 9 para. 18(7) in force at Royal Assent and Sch. 9 para. 18(1)-(6) in force at 6.4.2006, see Sch. 9 para. 18(7)