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.”
Commencement Information
I1Sch. 10 para. 23 in force at 6.4.2006, see Sch. 10 para. 64(1)