50.Paragraph 3 amends section 638 ICTA which provides for restrictions on the approval of personal pension schemes. It substitutes “the Board” for “Secretary of State”.
51.Paragraph 4 amends section 649 ICTA, which provides for the tax treatment of DSS payments into personal pension schemes, to reflect the transfer from the Secretary of State to the Inland Revenue of the function of making such payments.
Commentary on Sections Income and Corporation Taxes Act 1988 (ICTA)