The Personal Pension Schemes (Transfer Payments) Regulations 2001
Section 638(2) of the Income and Corporation Taxes Act 1988 (“section 638(2)” and “the Taxes Act” respectively) provides that the Commissioners of Inland Revenue (“the Board”) shall not approve a personal pension scheme unless it makes such provision for the making, acceptance and application of transfer payments as satisfies any requirements imposed by or under regulations made by the Board. These Regulations amend and consolidate those requirements.