PART 2CREDIT ARRANGEMENTS

TRANSACTIONS WHICH ARE NOT CREDIT ARRANGEMENTS

Retirement benefits4

1

Liabilities for retirement benefits as represented by an appropriation to a pension reserve in accordance with proper practices in accordance with regulation 25 are liabilities specified for the purposes of section 7(3)(c).

2

For the purposes of paragraph (1) and regulation 25, “retirement benefits” means benefits payable pursuant to—

a

the Local Government Pension Scheme Regulations 19977;

b

the Firemen’s Pension Scheme Order 19928;

c

the Police Pensions Regulations 19879;

d

the Local Government (Early Termination of Employment) (Discretionary Compensation) (England and Wales) Regulations 200010;

e

the Teachers (Compensation for Redundancy and Premature Retirement) Regulations 199711; and

f

any other regulations made under section 24 of the Superannuation Act 1972 (Compensation for loss of office etc.)12.