2006 No. 571
INCOME TAX

The Registered Pension Schemes (Authorised Member Payments) (No. 2) Regulations 2006

Made
Laid before the House of Commons
Coming into force
The Commissioners for Her Majesty’s Revenue and Customs make the following Regulations in exercise of the powers conferred by section 164(f) of the Finance Act 20041, and now exercisable by them2

Citation and commencement1.

These Regulations may be cited as the Registered Pension Schemes (Authorised Member Payments) (No. 2) -Regulations 2006 and shall come into force on 6th April 2006.

Payments which are authorised member payments2.

A payment which satisfies the conditions in article 38(1), 39(1), 40(1) or 41(1) of the Taxation of Pension Schemes (Transitional Provisions) Order 20063 is a payment which a registered pension scheme is authorised to make.
David Varney
Paul Gray
Two of the Commissioners for Her Majesty’s Revenue and Customs
(This note is not part of the Order)

This Order authorises registered pension schemes to make certain payments to which entitlement accrued before 6th April 2006. The effect is to exempt these payments, made on or after 6th April 2006, from the unauthorised payments charge imposed by section 209 of the Finance Act 2004 (c. 12).

This Order does not impose new costs on business.