Section 274A | Power to split schemes

(1)The Board of Inland Revenue may make regulations for and in connection with treating registered pension schemes to which this section applies as if they were a number of separate registered pension schemes for such of the purposes of this Part and of provision made under it as are prescribed by the regulations.

(2)This section applies to pension schemes prescribed, or of a description prescribed, by the regulations.

(3)The provision that may be made by the regulations may, in particular, include—

(a)provision as to who is to be treated as the scheme administrator in relation to each of the separate pension schemes, and

(b)any such other modifications of the provision made by and under this Part as appears appropriate in consequence of, or otherwise in connection with, provision made under subsection (1) (including provision so made by virtue of paragraph (a) of this subsection).

(4)The regulations may make different provision for different cases.

(5)Sections 226A and 226B of the Inheritance Tax Act 1984 (withholding of benefits and payment of inheritance tax by scheme administrator) are treated for the purposes of this section as provision made by this Part.