SCHEDULES

SCHEDULE 30Registered pension schemes: employer loans

Amount of unauthorised payment

Loan does not comply with section 179(1) when made

I15

1

If a loan does not comply with section 179 (1) (authorised employer loan) when it is made, there is an unauthorised payment of an amount equal to the largest of such of amounts 1, 2, A, B, and C as arise in relation to the loan.

2

Paragraphs 12 to 16 explain amounts 1, 2, A, B and C.