159 Recycling of lump sums
Finance Act 2006 (2006 c 25) | Legislation

159  Recycling of lump sums

(1)     In Schedule 29 to FA 2004 (authorised lump sums), after paragraph 3 insert—

“3´¡

(1)     Where this paragraph applies in relation to a pension commencement lump sum paid to the member, the pension scheme is to be treated as making to the member an unauthorised payment of the appropriate amount.

(2)     Subject to sub-paragraphs (3) and (4), this paragraph applies in relation to a pension commencement lump sum if—

(a)     because

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