Commentary on Sections Overview Overview Section 705: Certification of arrangements
2701.This section sets out the administrative provisions for the certification by the Treasury of linked savings arrangements. It also provides the powers for the Treasury to impose further requirements on an institutional arrangement. In practice, this means that arrangements must correspond to the Treasury model scheme for these arrangements. It is based on section 326 of and Schedule 15A to ICTA.
2702.In the source legislation, the power to impose further requirements is in respect of requirements “for the purposes of” section 326 of ICTA. But Schedule 15A to ICTA has “effect for the purposes of section 326” (paragraph 1 of that Schedule), so that the section must be read with the Schedule. This Chapter incorporates both the section and the Schedule, so this section applies the power in respect of requirements for the purposes of the Chapter.