Finance Act 1989

Preliminary

31 (1) Subject to sub-paragraphs (2) to (4) below, this Part of this Schedule applies in relation to any retirement benefits scheme which was approved by the Board before the day on which this Act is passed and which makes provision for the payment by an employee of voluntary contributions.

(2) Paragraph 32 below only applies where—

(a) the provision for the payment of voluntary contributions is freestanding, and

(b) the scheme is not one to which contributions are made by any employer of the employee.

(3) The Board may by regulations provide that, in circumstances prescribed in the regulations, this Part of this Schedule or any provision of it shall not apply or shall apply with such modifications as may be so prescribed.

(4) Regulations under sub-paragraph (3) above—

(a) may include provision authorising the Board to direct that this Part of this Schedule or any provision of it shall not apply in any particular case where in the opinion of the Board the facts are such that its application would not be appropriate;

(b) may make such supplementary provision as appears to the Board to be necessary or expedient.