[172A Surrender]
Finance Act 2004 (2004 c 12) | Legislation

[172A Ìý³§³Ü°ù°ù±ð²Ô»å±ð°ù±Õ

[(1)     Subsection (2) applies if a member of a registered pension scheme surrenders or agrees to surrender—

(a)     any benefit, other than an excluded pension, to which the member (or any dependant[, nominee or successor] of the member) has a prospective entitlement under an arrangement under the pension scheme,

[(aa)     any rights to payments under a lifetime annuity or dependants' annuity[, or nominees' annuity or successors' annuity,] purchased by the application of sums or assets held for the purposes of the pension scheme,] or

(b)     any right in respect of any sums or assets held for the purposes of any arrangement under the pension scheme.

(2)     The pension scheme is to be treated as making an unauthorised payment to the member.

(3)     Subsection (4) applies if a person surrenders or agrees to surrender—

(a)     any benefit, other than an excluded pension, to which the person has a prospective entitlement under an arrangement under the pension scheme [in respect of] a member of a pension scheme, or

(b)     any right in respect of any sums or assets held for the purposes of any arrangement relating to a member of the pension scheme under the pension scheme.

(4)     The

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