SCHEDULES

SCHEDULE 5Pension schemes: collective money purchase benefits

PART 1Amendments of Part 4 of FA 2004

I18

1

Section 184 (unauthorised borrowing: other arrangements) is amended as follows.

2

In subsection (1), for “arrangement which is not a money purchase arrangement” substitute “ relevant arrangement ”.

3

After subsection (1) insert—

1A

In this section “relevant arrangement” means an arrangement that—

a

is not a money purchase arrangement, or

b

is a collective money purchase arrangement.

4

In subsection (2), in the definition of APB, for “arrangements which are not money purchase arrangements” substitute “ relevant arrangements ”.

5

In subsection (3), in paragraphs (a) and (b), for “not money purchase arrangements” substitute “ relevant arrangements ”.