HC Deb 07 December 1993 vol 234 cc268-9

Resolved,

That—

(1) Schedule 10 to the Income and Corporation Taxes Act 1988 shall be amended as follows.

(2) In paragraph 3 the words from "In this paragraph" to the end of the paragraph shall be omitted.

(3) The following paragraph shall be inserted after paragraph 3— 3A.—(1) In paragraph 3 above the reference to the relevant age shall be construed as follows.

(2) Where the scheme is approved before 25th July 1991 and the event occurs before 30th November 1993, the relevant age is pensionable age.

(3) Where—

  1. (a) the scheme is approved before 25th July 1991,
  2. (b) the event occurs on or after 30th November 1993
  3. (c) the scheme defines the period of retention by reference to the age of 60 for both men and women, and
  4. (d) the reference to that age is incorporated in the definition by virtue of an alteration approved by the Board under paragraph 4 of Schedule 9 before the event occurs,
the relevant age is 60.

(4) Where—

  1. (a) the scheme is approved before 25th July 1991,
  2. (b) the event occurs on or after 30th November 1993, and
  3. (c) sub-paragraph (3) above does not apply, the relevant age is pensionable age.

(5) Where the scheme is approved on or after 25th July 1991, the relevant age is the specified age."

And it is hereby declared that it is expendient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.