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The Pension Sharing (Implementation and Discharge of Liability) Regulations 2000, Section 12 is up to date with all changes known to be in force on or before 23 December 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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12. The requirements referred to in paragraph 7(1)(b) of Schedule 5 to the 1999 Act (requirements to be satisfied to qualify pension arrangements as destinations for pension credits) are that the pension arrangement—
(a)is an arrangement which carries on pension business as defined by section 431B of the Income and Corporation Taxes Act 1988 M1 (meaning of “pension business");
(b)is an overseas arrangement within the meaning given by regulation 1(2) of the Contracting-out (Transfer and Transfer Payment) Regulations 1996 M2 (citation, commencement and interpretation); [F1or]
(c)is an overseas scheme within the meaning given by regulation 1(2) M3 of the Contracting-out (Transfer and Transfer Payment) Regulations 1996.
Textual Amendments
F1Word in reg. 12(b) substituted (1.12.2000) by The Pension Sharing (Consequential and Miscellaneous Amendments) Regulations 2000 (S.I. 2000/2691), regs. 1, 11(6)
Marginal Citations
M1Section 431B was inserted by paragraph 2 of Schedule 8 to the Finance Act 1995 (c. 4).
M3The definition of “overseas scheme" was amended by paragraph 7(2) of Schedule 1 to S.I. 1997/786.
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