The Personal Pension Schemes (Appropriate Schemes) Regulations 1997

Citation, commencement and interpretation

1.—(1) These Regulations may be cited as the Personal Pension Schemes (Appropriate Schemes) Regulations 1997 and shall come into force on 6th April 1997.

(2) In these Regulations—

“the 1993 Act” means the Pension Schemes Act 1993;

“administrators”, in relation to a personal pension scheme, means—

(a)

the trustees; or

(b)

the managers (if there are no trustees), and

(c)

any person or company authorised to act on behalf of the trustees or managers (if there are no trustees),

but does not include any person who is resident outside the United Kingdom nor any company which has its registered office outside the United Kingdom;

“Friendly Society” has the same meaning as in the Friendly Societies Act 1992(1) (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);

“investment business” has the meaning assigned to that expression by the Financial Services Act 1986(2);

“overseas scheme” means an occupational pension scheme which is administered wholly or primarily outside the United Kingdom but does not include one which is contracted-out within the meaning of section 7(3) of the 1993 Act nor one to which section 53(3) of the 1993 Act applies;

“pensionable age” has the meaning given by the rules in paragraph 1 of Part I of Schedule 4 to the Pensions Act 1995; and

“tax week” has the same meaning as in section 181(1) of the 1993 Act.

(3) In these Regulations, unless the context otherwise requires, any reference—

(a) to a numbered regulation is to the regulation in these Regulations bearing that number;

(b) in a regulation to a numbered paragraph is to the paragraph of that regulation bearing that number; and

(c) in a paragraph to a lettered sub-paragraph is to the sub-paragraph of that paragraph bearing that letter.

(1)

1992 c. 40.

(2)

1986 c. 60.

(3)

Section 7 was amended by section 136(1) of, and paragraph 22 of Schedule 5, to the Pensions Act 1995. Section 53 was amended by paragraph 48 of Schedule 5 to the Pensions Act 1995.