PSI4.3.16 - Maximum Contributions: Disapplication Regulations

(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)

Schemes that were approved before 27 December 1993 were taken out of the 3-year deadline for making the appropriate amendment by The Retirement Benefits Schemes (Restriction on Discretion to Approve) (Excepted Schemes) Regulations 1996 [SI 1996 No 1582], which came into force on 10 July 1996. Schemes did not automatically lose approval with effect from 27 December 1996 if the necessary amendment was not made by that date. Despite this relaxation, schemes are expected

• to comply voluntarily with the 1993 regulations (see PSI4.3.12) and the industry-wide Code of Practice until their rules are amended, and
• to amend their rules at the first practicable opportunity. This may be achieved by adopting the standard form of words in PSI4.3.14.

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