- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). UK Statutory Instruments are not carried in their revised form on this site.
(This note is not part of the Order)
This Order amends the Occupational Pension Schemes (Discharge of Protected Rights on Winding Up) Regulations 1996 (S.I. 1996/775) and the Occupational Pension Schemes (Discharge of Protected Rights on Winding Up) Regulations (Northern Ireland) 1996 (S.R. 1996 No. 94) (“the Winding up Regulations”) and the Personal and Occupational Pensions Schemes (Protected Rights) Regulations 1996 (S.I. 1996/1537) and the Personal and Occupational Pension Schemes (Protected Rights) Regulations (Northern Ireland) 1997 (S.R. 1997 No. 56) (“the Protected Rights Regulations”) consequential upon amendments made to the Finance Act 2004 (c.12) (“the 2004 Act”) by the Finance Act 2006 (c.25).
This Order amends the provisions of the Winding up Regulations and the Protected Rights Regulations regarding pension commencement lump sums that are paid out of protected rights used to purchase a scheme pension so that they mirror those contained in the 2004 Act.
A Regulatory Impact Assessment has not been prepared for this instrument as it has only a negligible impact on the costs of business, charities or voluntary bodies.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: