Regulation 37

12.—(1) In regulation 37(3) (notional capital)(1)—

(a) insert immediately before sub-paragraph (a)—

“(za) if made to a third party in respect of a single relevant person or a member of his family (but not a member of the third party’s family) shall, where that payment is a payment of an occupational pension or is a pension or other periodical payment made under a personal pension scheme, be treated as possessed by that single relevant person or, as the case may be, by that member;”;

(b) in sub-paragraph (a), after “shall” insert “, where it is not a payment referred to in sub-paragraph (za),”.

(2) In regulation 37(3A) after sub-paragraph (b), add—

“(c) made under an occupational pension scheme or in respect of a pension or other periodical payment made under a personal pension scheme where—

(i) a bankruptcy order has been made in respect of the person in respect of whom the payment has been made or, in Scotland, the estate of that person is subject to sequestration or a judicial factor has been appointed on that person’s estate under section 41 of the Solicitors (Scotland) Act 1980;

(ii) the payment is made to the trustee in bankruptcy or any other person acting on behalf of the creditors; and

(iii) the person referred to in (i) and any member of his family does not possess, or is not treated as possessing, any other income apart from that payment.”.

(1)

Regulation 37 was amended by S.R. 1998 No. 396 and S.R. 1999 No. 387