Part 6

Exempt income
Chapter 4

SAYE interest

Authorisation of providers
707
1
In the case of an institutional arrangement, section 702(1) (exemption of interest payable under certified SAYE savings arrangements) only applies if, at the time the contract under the arrangement is made, the provider is authorised by the Commissioners to enter into contracts under it.
2
If the authorisation is conditional, the conditions must be met at that time.
3
Authorisation may be given for arrangements generally or a particular arrangement.
4
More than one authorisation may be given to the same provider.
Word in s. 707(1) substituted (retrospective to 29.4.2009) by Finance Act 2009 (c. 10), s. 50(2), Sch. 26 para. 4