PART 4 U.K.Pension compensation sharing and qualifying agreements (Scotland)

Prescribed form of provision corresponding to provision which may be made by a pension compensation sharing order U.K.

7.  For the purposes of section 109(g)(ii) of the Act, the form of a provision corresponding to provision which may be made by a pension compensation sharing order, and which is contained in a qualifying agreement between the parties to a marriage or the partners in a civil partnership, is that the provision must include—

(a) in relation to the transferor, the information specified in regulation 9(1)(a);

(b) in relation to the transferee, the information specified in regulation 9(1)(b);

(c) details of—

(i) the amount to be transferred to the transferee, or

(ii) the percentage of the cash equivalent of the relevant compensation which is to be transferred to the transferee;

(d) details of provision about the apportionment between the transferor and transferee (if any) of charges imposed by the Board in accordance with regulation 18(1);

(e) confirmation by the transferor that the Board has been sent notification that a qualifying agreement is to be made, and that the Board has acknowledged receipt of that notification.

Circumstances in which an agreement is to be entered into, in order to be considered a “qualifying agreement” for the purposes of section 110(1)(a) of the Act U.K.

8.  The circumstances prescribed for the purposes of section 110(1)(a) of the Act are that —

(a) the transferor has notified the Board that a qualifying agreement which makes provision corresponding to—

(i) a pension compensation sharing order under section 8 of the Family Law (Scotland) Act 1985; or

(ii) a capital sum order made under section 8 containing provision by virtue of section 12B of that Act,

is to be made; and

(b) the transferor and transferee have entered into the agreement in order to determine the financial settlement on divorce or dissolution of a civil partnership.