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The Retirement Benefits Schemes (Restriction on Discretion to Approve) (Small Self-administered Schemes) (Amendment No. 2) Regulations 1998
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- 1998 No. 1315
- Explanatory Note
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Explanatory Note
(This note is not part of the Regulations)
These Regulations amend the Retirement Benefits Schemes (Restriction on Discretion to Approve) (Small Self-administered Schemes) Regulations 1991 (S.I. 1991/1614) (“the principal Regulations”) which impose restrictions on the Board of Inland Revenue’s discretion to approve under section 591 of the Income and Corporation Taxes Act 1988 retirement benefits schemes that are small self-administered schemes.
Regulation 1 provides for citation and commencement, and regulation 2 for interpretation.
Regulations 3 to 5 make amendments of a drafting nature to regulations 4(1)(c) and 7(2) and (3) of the principal Regulations (as amended by S.I. 1998/728).
Regulation 6 amends regulation 9 of the principal Regulations (as amended by S.I. 1998/728) so as to provide that a pensioneer trustee’s appointment may be terminated where he is the subject of a prohibition or suspension order, or is disqualified from being a trustee, under the Pensions Act 1995 or the Pensions (Northern Ireland) Order 1995.
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