The Occupational and Personal Pension Schemes (Authorised Payments) Regulations (Northern Ireland) 2009 No. 365

Amendment of the Pension Sharing (Implementation and Discharge of Liability) Regulations

8.  In regulation 15 of the Pension Sharing (Implementation and Discharge of Liability) Regulations (Northern Ireland) 2000(1) (disqualification as a destination for pension credit – annuity contracts and insurance policies)—

(a) in paragraph (4)—

(i) omit “either”;

(ii) at the end of sub-paragraph (a) omit “or”;

(iii) after sub-paragraph (a) insert—

“(aa) the condition set out in paragraph (5A) is satisfied, or”;

(b) after paragraph (5) insert—

“(5A) The condition referred to in paragraph (4)(aa) is that the lump sum payment is—

(a) made by a registered pension scheme (within the meaning given in section 150(2) of the Finance Act 2004);

(b) a payment that is described in Part 2 of the Registered Pension Schemes (Authorised Payments) Regulations 2009 (commutation payments), and

(c) made to or in respect of a member.”.

(1)

S.R. 2000 No. 145; regulation 15 was amended by paragraph 4 of Schedule 1 to S.R. 2005 No. 536 and Article 37(4) of S.I. 2006/744