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2(1)Paragraph 1 (application of member payment charges to relevant non-UK schemes) is amended as follows.U.K.
(2)After sub-paragraph (6) insert—
“(6A)There are three types of relevant transfer—
(a)an original relevant transfer,
(b)a subsequent relevant transfer, and
(c)any other (including, in particular, all relevant transfers before 9 March 2017).
(6B)“An original relevant transfer” is—
(a)a relevant transfer within sub-paragraph (6)(a) made on or after 9 March 2017,
(b)a relevant transfer within sub-paragraph (6)(b), made on or after 9 March 2017, of the whole or part of the UK tax-relieved fund of a relieved member of a qualifying recognised overseas pension scheme, or
(c)a relevant transfer within sub-paragraph (6)(b), made on or after 6 April 2017, of the whole or part of the UK tax-relieved fund of a relieved member of a relevant non-UK scheme that is not a qualifying recognised overseas pension scheme.
(6C)The sums or assets transferred as a result of an original relevant transfer constitute a ring-fenced transfer fund, and the key date for that fund is the date of the transfer.
(6D)Where in the case of a ring-fenced transfer fund (“the source fund”) there is a relevant transfer of the whole or part of the fund—
(a)the sums or assets transferred as a result of the transfer constitute a ring-fenced transfer fund,
(b)that fund has the same key date as the source fund, and
(c)the transfer is “a subsequent relevant transfer”, and is not an original relevant transfer.
(6E)Sub-paragraph (6D) applies whether the source fund is a ring-fenced transfer fund as a result of sub-paragraph (6C) or as a result of sub-paragraph (6D).
(6F)The Commissioners for Her Majesty's Revenue and Customs may by regulations provide that sums or assets identified in accordance with the regulations are not included in a ring-fenced transfer fund as a result of sub-paragraph (6C) or (6D)(a).”
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