PSI16.2.44 - Discontinuance of Schemes:
Winding-Up - Prohibition on Amendment of Old Code Schemes -
Concession Cases
-
(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)
Where the rules are expressed as in
PSI16.2.40, and the trustees' views
are that an amendment to meet our requirements would be in breach
of trust, two courses are open:
- the employer or the administrator can apply
to the OPB under Section 64, Social Security Act 1973 for a
modification order making or authorising the amendment, or,
- where the deficient winding-up rule is the
only obstacle to approval under Chapter 1, Part XIV ICTA 1988, we
will concessionally consider waiving our normal requirements.
Contact: | Date issued: | Next review:
