ihta84/s152.- Cash options.

[1975 Sch.7 para.2]

1956 c.54.

152. Where -

[(a) under approved personal pension arrangements within the meaning of Chapter [IV of Part XIV of the Taxes Act 1988 ¹ ] or,

(b) under a contract or trust scheme approved by the Board under section [620 or 621 of the Taxes Act 1988 ² ] or (before [6th April 1970 ³ ]) under section 22 of the Finance Act 1956 ⁴ ]

an annuity becomes payable on a person's death to a widow, widower or dependant of that person, and under the terms of the contract or scheme a sum of money might at his option have become payable instead of his personal representatives, he shall not, by virtue o section 5(2) above, be treated as having been beneficially entitled to that sum.

1 1988(T), Sch.29, para.32. Originally "II of Part I of the Finance (No.2) Act 1987".

2 1988(T), Sch.29, para.32. Originally "226 or 226A of the Taxes Act".

3 1988(T), Sch.29, para.32. Originally "The commencement of that Act".

4 1987 (no.2) s.98(5), with effect from 23 July1987. Originally "under a contract or trust scheme approved by the Board under section 226 or 226A of the Taxes Act or (before commencement of that Act) under section 22 of the Finance Act 1956 (retirement annuities)".