Finance Act 2011

47(1)Section 12 (dispositions allowable for income tax or conferring benefits under pension scheme) is amended as follows.U.K.

(2)After subsection (2) insert—

(2ZA)Where a person who is a member of a registered pension scheme, a qualifying non-UK pension scheme or a section 615(3) scheme omits to exercise pension rights under the pension scheme, section 3(3) above does not apply in relation to the omission.

(3)Omit subsections (2A) to (2E).