SCHEDULES
SCHEDULE 36

Pension schemes etc: transitional provisions and savings
Part 1

Pre-commencement pension schemes

Power to modify rules of existing schemes
3
1
The Board of Inland Revenue may by regulations make any modifications of the rules of pension schemes to which paragraph 1 (1) applies if the modifications appear appropriate in consequence of, or in connection with, the provision made by this Part (or the repeals made by this Act in consequence of the provision made by this Part).
2
Any modifications of the rules of a pension scheme made by the regulations have effect until the earlier of—
a
the first date after 5th April 2006 on which amendments of the rules of the pension scheme which state that the modifications no longer apply in relation to it take effect, or
b
the end of the tax year 2010-11 or such later time as the Board of Inland Revenue may by regulations prescribe.
3
The modifications that may be made by the regulations include, in particular—
a
modifications for relieving pension schemes of obligations to make payments which, on and after 6th April 2006, would be unauthorised payments, and
b
modifications of provisions (however expressed) referring to any limit contained in, or relevant in relation to approval under or for the purposes of, any provision of Part 14 of ICTA (pension schemes etc.) as it has effect at any time before 6th April 2006.
Words in Sch. 36 para. 3(2) substituted (6.4.2006) by Finance Act 2005 (c. 7), Sch. 10 paras. 51, 64(1)
Sch. 36 modified by The Taxation of Pension Schemes (Transitional Provisions) Order 2006 (S.I. 2006/572), art. 23D (as inserted (1.6.2009) by S.I. 2009/1172, arts. 1, 3; and amended (18.11.2024 for the tax year 2024-25 and subsequent tax years) by S.I. 2024/1012, regs. 1(2)(3), 25(15))