Statutory Instrument 2000 No. 2317

      The Personal Pension Schemes (Establishment of Schemes) Order 2000


      © Crown Copyright 2000

      Statutory Instruments printed from this website are printed under the superintendence and authority of the Controller of HMSO being the Queen's Printer of Acts of Parliament.

      The legislation contained on this web site is subject to Crown Copyright protection. It may be reproduced free of charge provided that it is reproduced accurately and that the source and copyright status of the material is made evident to users.

      It should be noted that the right to reproduce the text of Statutory Instruments does not extend to the Queen's Printer imprints which should be removed from any copies of the Statutory Instrument which are issued or made available to the public. This includes reproduction of the Statutory Instrument on the Internet and on intranet sites. The Royal Arms may be reproduced only where they are an integral part of the original document.

      The text of this Internet version of the Statutory Instrument which is published by the Queen's Printer of Acts of Parliament has been prepared to reflect the text as it was Made. A print version is also available and is published by The Stationery Office Limited as the The Personal Pension Schemes (Establishment of Schemes) Order 2000, ISBN 0 11 099919 3. The print version may be purchased by clicking here. Braille copies of this Statutory Instrument can also be purchased at the same price as the print edition by contacting TSO Customer Services on 0870 600 5522 or e-mail:customer.services@tso.co.uk.

      Further information about the publication of legislation on this website can be found by referring to the Frequently Asked Questions.

      To ensure fast access over slow connections, large documents have been segmented into "chunks". Where you see a "continue" button at the bottom of the page of text, this indicates that there is another chunk of text available.


STATUTORY INSTRUMENTS


2000 No. 2317

INCOME TAX

The Personal Pension Schemes (Establishment of Schemes) Order 2000

  Made 31st August 2000 
  Laid before the House of Commons 31st August 2000 
  Coming into force 1st October 2000 

The Treasury, in exercise of the powers conferred on them by section 632(4) of the Income and Corporation Taxes Act 1988[1], hereby make the following Order:

Citation and commencement
     1. This Order may be cited as the Personal Pension Schemes (Establishment of Schemes) Order 2000 and shall come into force on 1st October 2000.

    
2.  - (1) Section 632 of the Income and Corporation Taxes Act 1988 shall be amended as follows.

    (2) In subsection (1) for the word "The" there shall be substituted the words "Subject to subsection (1A), the".

    (3) After subsection (1) there shall be inserted the following subsection - 

        " (1A) The Board may approve a personal pension scheme established by any person other than a person mentioned in subsection (1)(a) to (e) if the scheme is established under a trust or trusts."


Greg Pope

Jim Dowd
Two of the Lords Commissioners of Her Majesty's Treasury

31st August 2000



EXPLANATORY NOTE

(This note is not part of the Order)


Section 632(1) of the Income and Corporation Taxes Act 1988 provides that the Commissioners of Inland Revenue shall not approve a personal pension scheme established by any person other than those mentioned in that sub-section. Section 632(4) provides that the Treasury may by Order amend that section.

This Order, which comes into force on 1st October 2000, provides that a personal pension scheme set up in the form of a trust may be established not only by the existing categories of persons in section 632(1), but also by any other person.


Notes:

[1] 1988 c. 1; section 632 was amended by section 54 of the Finance Act 1988 (c. 39), by regulation 3 of S.I. 1988/993 and by regulation 3(a) of S.I. 1997/2388.back



ISBN 0 11 099919 3


 

Other UK SIs | Home | National Assembly for Wales Statutory Instruments | Scottish Statutory Instruments | Statutory Rules of Northern Ireland |  Her Majesty's Stationery Office


We welcome your comments on this site
© Crown copyright 2000
Prepared 27 September 2000