The Personal Pension Schemes (Appropriate Schemes) Amendment Regulations 1995

• Citation: S.I. 1995/1612
• Sections: 2

Section 1 Citation, commencement and interpretation

(1) These Regulations may be cited as the Personal Pension Schemes (Appropriate Schemes) Amendment Regulations 1995 and shall come into force on 19th July 1995.

(2) In these Regulations “the principal Regulations ” means the Personal Pension Schemes (Appropriate Schemes) Regulations 1988 .

Section 2 Insertion of new regulation 15A in the principal Regulations

After regulation 15 of the principal Regulations (manner of payment of minimum contributions) there shall be inserted the following regulation—

Allocation of minimum contributions

(15A) A personal pension scheme can be an appropriate scheme only if the rules of the scheme provide that any minimum contributions falling to be applied so as to provide benefits in respect of a member are to be so applied from the date on which payment is made by the Secretary of State in accordance with regulation 15 and that such minimum contributions are to be allocated to that member’s account within three months of that date.