The Stamp Duty and Stamp Duty Reserve Tax (Pension Funds Pooling Schemes) Regulations 1996
These Regulations provide for certain unauthorised unit trust schemes (“pension funds pooling schemes”) to be excepted from the definition of unit trust scheme given by section 57(1) of the Finance Act 1946 and section 28(1) of the Finance (No. 2) Act (Northern Ireland) 1946. A pension funds pooling scheme is a scheme participation in which is restricted to certain pension schemes or funds and which has the characteristics set out in the Income Tax (Pension Funds Pooling Schemes) Regulations 1996 (S.I. 1996/1585).