Taxes Consolidation Act 1997 section 770

Interpretation and supplemental (Chapter 1)

Section 770 defines the key terms used throughout the occupational pension scheme provisions in Chapter 1 of Part 30, and gives effect to the supplementary administrative rules in Schedules 23 and 23C.

• Defines core terms including approved scheme, exempt approved scheme, administrator, employee, director, proprietary director, relevant benefits, final remuneration, and additional voluntary contributions
• Defines overseas pension scheme by reference to the EU Pensions Directive (IORP II) and includes schemes established in the United Kingdom subject to equivalent regulation
• Provides that references to the provision of relevant benefits for employees include provision by means of a contract with a third party such as an insurance company
• Gives effect to Schedules 23 and 23C, which contain detailed administrative and procedural rules supplementing the Chapter