The Retirement Benefits Schemes (Restriction on Discretion to Approve) (Small Self-administered Schemes) Regulations 1991
Section 591(6) of the Income and Corporation Taxes Act 1988 provides that regulations made by the Board for the purposes of that section may restrict the Board’s discretion to approve a retirement benefits scheme “a scheme” by reference to the benefits provided by the scheme, the investments held for the purposes of the scheme, the manner in which the scheme is administered or any other circumstances whatever; and these Regulations, which come into force on 5th August 1991, impose restrictions in relation to small self-administered schemes.