RPSM13102187 - Technical pages: Application of charges to non-UK scheme: Member payment charges and taxable property unauthorised payment charge: Modifications: Insurance company

Taxable property unauthorised payment charge: Modification of insurance company definition

[The Pension Schemes (Application of UK Provisions to Relevant Non-UK Schemes) (Amendment) Regulations 2006 - SI2006/1960] 

The Pension Schemes (Application of UK Provisions to Relevant Non-UK Schemes) (Amendment) Regulations 2006 provide for the modification of paragraph 15 of schedule 29A (see RPSM04301100) so that it applies to the transfer member of a relevant non-UK scheme as if “insurance company” included any person resident in a country or territory outside the European Economic Area. This is subject to the person meeting certain regulatory conditions in the UK and in that country or territory.