Amendment of the 1997 Regulations
This section has no associated Explanatory Memorandum
19. In regulation F1—
(a)for paragraph (1) substitute the following paragraphs—
“(1) Subject to paragraphs (1A) to (7) a transfer value is to be paid in respect of a person who has ceased to be in pensionable employment and has become subject to another registered pension scheme (“the receiving scheme”)
(1A) A transfer value may only be paid in respect of a person who has become subject to a personal pension scheme if the person ceased to be in pensionable employment after 31st December 1985”.
(b)in paragraphs (5) and (6)(b) for “an approved” substitute “a registered”.