Registrable schemes2

1

A scheme which is of a description prescribed for the purposes of section 59(2) of the Act (register of occupational and personal pension schemes – prescribed description of “registrable schemes”) is a scheme—

a

which–

i

has more than one member, and

ii

provides benefits which are not solely payable on the death of a member; and

b

which—

i

prior to 6th April 2006, has received the approval of the Board of Inland Revenue for the purposes of section 590 or section 591 (other than subsection (2)(g)) of the Income and Corporation Taxes Act 1988 M1 (conditions for approval of retirement benefit schemes and discretionary approval), or for the purposes of Chapter 4 of Part 14 of that Act (personal pension schemes),

ii

is a public service pension scheme, or

iii

on or after 6th April 2006, is or has been registered in accordance with section 153 of the Finance Act 2004 M2(registration of pension schemes) (or is treated as registered by virtue of Schedule 36); F1...

F1c

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2

Sub-paragraphs (a)(ii) and (b)(i) and (ii) of paragraph (1) shall cease to have effect on 6th April 2006.