The Retirement Benefits Schemes (Restriction on Discretion to Approve) (Additional Voluntary Contributions) Regulations 1993
Section 591(6) of the Income and Corporation Taxes Act 1988 (“section 591(6)”) provides that regulations made by the Commissioners of Inland Revenue (“the Board”) for the purposes of that section may restrict the Board’s discretion to approve a retirement benefits 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 whatsoever.