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Changes over time for: Paragraph 23
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Version Superseded: 19/07/2011
Status:
Point in time view as at 10/07/2008.
Changes to legislation:
There are currently no known outstanding effects for the Finance Act 2005, Paragraph 23.
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.
23(1)Paragraph 25 of Schedule 28 (dependant's alternatively secured pension fund) is amended as follows.U.K.
(2)In sub-paragraph (1)(b) (exclusion of certain sums and assets), for “for purchasing a dependants' scheme pension or a dependants' annuity or paid as dependants' income withdrawal” substitute “ towards the provision of a dependants' scheme pension ”.
(3)For sub-paragraphs (2) and (3) (conditions to be met) substitute—
“(2)Condition A is that they—
(a)were part of the dependant's unsecured pension fund in respect of the arrangement when the dependant reached the age of 75, or
(b)arise, or (directly or indirectly) derive, from sums or assets within paragraph (a) or which so arise or derive.
(3)Condition B is that they have at any time since the dependant reached the age of 75 been designated as available for the payment of alternatively secured dependants' pension to the dependant or arise, or (directly or indirectly) derive, from sums or assets which have been so designated or which so arise or derive.
(4)If any sums or assets representing a dependant's alternatively secured pension fund in respect of an arrangement under the pension scheme would (apart from this sub-paragraph) come to be taken to represent another dependant's alternatively secured pension fund of his under the pension scheme, or an alternatively secured pension fund of his under the pension scheme, they are to be treated as not doing so.”
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