This is the original version (as it was originally enacted).
(1)Regulations must prohibit the making of payments out of funds held for the purposes of providing collective benefits except for—
(a)payments made for the purpose of providing those benefits, or
(b)other specified payments.
(2)The regulations may, in particular, make provision corresponding or similar to any provision made by section 37 of the Pensions Act 1995 (payment of surplus to employer in the case of an occupational trust-based scheme).
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