The Personal Pension Schemes (Restriction on Discretion to Approve) (Establishment of Schemes under Trusts) Regulations 2000
These Regulations impose a restriction on the Board of Inland Revenue’s discretion to approve some personal pension schemes. The schemes affected are those established under trusts by persons other than those mentioned in paragraphs (a) to (e) of section 632(1) of the Income and Corporation Taxes Act 1988 (c. 1). The Board may approve such schemes only if the condition in either paragraph (2) or (3) of regulation 3 is satisfied.