Section 554Z16 | Application etc ^F1

(1)This Chapter applies if there is an undertaking (“the relevant undertaking”) that a contribution to which subsection (2) would apply will be paid.^F1

(2)This subsection applies to a contribution if—^F1

(a)the contribution is paid to an arrangement which is not a registered pension scheme,^F1

(b)in connection with that arrangement (directly or indirectly), relevant benefits are to be provided (directly or indirectly) out of the contribution by a relevant third person,^F1

(c)the provision of the relevant benefits would be a relevant step, and^F1

(d)the contribution is neither a tax-relieved contribution nor tax-exempt provision.^F1

(3)In subsection (2)—^F1

“relevant benefits” has the same meaning as in Chapter 2 of Part 6, but ignoring section 393B(2)(a),

“relevant third person” means a person within section 554A(7)(a) to (c) (ignoring this Chapter), and

“tax-exempt provision” and “tax-relieved contribution” have the meaning given by paragraph 3(3) and (4) of Schedule 34 to FA 2004.

(4)In this Chapter references to an undertaking include references to—^F1

(a)an undertaking which is not legally enforceable, and^F1

(b)an undertaking which is to be performed only on or following the meeting of a condition (including a condition which might never be met).^F1