The Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 1995

Amendment of the Personal Pension Schemes (Appropriate Schemes) Regulations 1988

7.  In the Personal Pension Schemes (Appropriate Schemes) Regulations 1988(1)—

(a) in regulation 1(2) for the definition of “Friendly Society” there shall be substituted the following definition—

• ““Friendly Society” has the same meaning as in the Friendly Societies Act 1992 (including any society which by virtue of section 96(2) of that Act is to be treated as a registered friendly society within the meaning of that Act);”;

(b) in regulation 2 (forms of schemes which may be appropriate schemes), for the words “Chapter II of Part I of the Finance (No.2) Act 1987 or Chapter II of Part II of the Finance Act 1970 by reference to section 20(2)(h) of that Act” and “Chapter II of Part I of the Finance (No.2) Act 1987” there shall be substituted respectively “Chapter IV of Part XIV of the Income and Corporation Taxes Act 1988(2) or Chapter I of Part XIV of the Income and Corporation Taxes Act 1988 by reference to section 591(2)(h) of that Act” and “Chapter IV of Part XIV of the Income and Corporation Taxes Act 1988”;

(c) in regulation 3 (persons who and bodies which may establish schemes), for paragraph (2) there shall be substituted the following paragraph—

“(2) This paragraph applies to a Friendly Society which is authorised under section 32 of the Friendly Societies Act 1992 to carry on long term business under any of the Classes specified in Head A of Schedule 2 to that Act.”.

(1)

S.I. 1988/137; relevant amending instruments are S.I. 1988/830, 1990/1141 and 1994/1062.

(2)

1988 c. 1.