C1C2C3C4C5C6C7C8C9C10C11C12C13C14C15Part 4Pension schemes etc

Annotations:
Modifications etc. (not altering text)
C7

Pt. 4 modified (1.7.2008) (N.I.) (with effect in accordance with reg. 1 of the amending Rule) by The Health and Social Care (Pension Scheme) Regulations (Northern Ireland) 2008 (S.R. 2008/256), regs. 1, 124(1) (with regs. 134, 258)

C9

Pt. 4 applied (21.7.2009) by Finance Act 2009 (c. 10), Sch. 35 para. 18

C10

Pt. 4 modified (19.7.2011) by Finance Act 2011 (c. 11), Sch. 18 para. 14(3)

C11

Pt. 4 applied (with modifications) (with application in accordance with Sch. 22 para. 1 of the amending Act) by Finance Act 2013 (c. 29), Sch. 22 para. 1(2)

C12

Pt. 4 modified (17.7.2014) by Finance Act 2014 (c. 26), Sch. 6 para. 1(2)(3)

C13

Pt. 4: power to amend conferred (17.12.2014) by Taxation of Pensions Act 2014 (c. 30), s. 4(3)

C14

Pt. 4 modified (15.9.2016) by Finance Act 2016 (c. 24), Sch. 4 para. 1

C15

Pt. 4 modified (15.9.2016) by Finance Act 2016 (c. 24), Sch. 4 para. 9(2)

C9Chapter 4Registered pension schemes: tax reliefs and exemptions

Employers' contributions

196HF1Employer asset-backed contributions: “relevant change in relation to the partnership” and “person involved in the relevant change”

1

For the purposes of sections 196D and 196F there is a relevant change in relation to the partnership if condition X or Y is met.

2

Condition X is that, in connection with the asset-backed arrangement, the lender or a person connected with the lender becomes a member of the partnership at any time.

3

Condition Y is that—

a

in connection with the asset-backed arrangement, there is at any time a change in a member's share in the partnership's profits, and

b

the member is the lender or a person connected with the lender or a person who in connection with the asset-backed arrangement becomes at any time connected with the lender.

4

For the purposes of subsections (2) and (3) an event occurs in connection with the asset-backed arrangement if it occurs directly or indirectly in consequence of it or otherwise in connection with it.

5

For the purposes of sections 196D to 196G references to the person involved in the relevant change in relation to the partnership are—

a

if it is condition X that is met, to the lender or the person connected with the lender (as the case may be), and

b

if it is condition Y that is met, to the member of the partnership in whose share in the partnership's profits there is a change.