PSI1.3.25 - Establishment and Administration of
Retirement Benefits Schemes: Exempt Approved Schemes and Conformity
with Trust Law - Oral Trusts - Resolutions by Partnerships
(This archived guidance relates to HMRC discretionary
practice before the 6th April 2006. For current guidance on
Registered Pension Schemes see the Registered Pension Schemes
Manual)
A procedure similar to the board resolution procedure may be
used in partnership cases with the minute of resolution being
signed by each of the partners. In the case of a Scottish
partnership, the following requirements should be met:
- the declaration of trust should be made by
the firm as well as by the individual partners,
- the signatures to the declaration of trust
should be witnessed by two witnesses,
- the trustees should record their acceptance
of office in writing, and
- members should apply for membership and
signify their acceptances of the trust in writing.
[1.3.26-27]
