2(1)The following provisions of paragraph 1 come into force on the day on which section 3 of the Pension Schemes Act 2017 (prohibition on operating Master Trust scheme unless authorised) comes into force or, if later, the day on which this Act is passed—U.K.
(a)sub-paragraph (3) so far as it inserts section 153(5)(i) of FA 2004 and the “or” at the end of section 153(5)(h);
(b)sub-paragraph (4) so far as it inserts section 158(1)(h) of that Act and the “or” at the end of section 158(1)(g);
(c)sub-paragraph (6) so far as it inserts section 279(1D) of that Act (definition of “unauthorised Master Trust scheme”);
(d)sub-paragraph (7) so far as it inserts an index entry relating to that definition.
(2)The following provisions of paragraph 1 come into force on 6 April 2018—
(a)sub-paragraph (3) so far as it inserts section 153(5)(h) of FA 2004 and the “or” at the end of section 153(5)(g);
(b)sub-paragraph (4) so far as it inserts section 158(1)(g) of that Act and the “or” at the end of section 158(1)(f);
(c)sub-paragraph (6) so far as it inserts section 279(1E) of that Act (definition of “dormant”);
(d)sub-paragraph (7) so far as it inserts an index entry relating to that definition.
(3)So far as not brought into force by sub-paragraph (1) or (2), and subject to sub-paragraph (4), paragraph 1 comes into force on the day on which this Act is passed.
(4)Paragraph 1(8) is treated as always having had effect.
(5)For the purposes of section 153(5)(h) and (i) of FA 2004 (as inserted by paragraph 1(3)) it is immaterial when the application in question was made.