[286A Restriction on purchase of annuities]
Pensions Act 2004 (2004 c 35) | Legislation

[286A  Restriction on purchase of annuities]

[(1)     This section applies to any qualifying pension scheme which has not been fully wound up.

(2)     The trustees of the scheme must not purchase or agree to purchase annuities on behalf of qualifying members unless—

(a)     before 26 September 2007 the trustees entered into a binding commitment to purchase the annuities, or

(b)     the purchase of the annuities is approved by the scheme manager on the application

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