Related Commentary  Related HMRC Manuals

181(1)  A registered pension scheme that is an occupational pension scheme is to be treated as having made an unauthorised payment to a person who is or has been a sponsoring employer if, in connection with any of the events mentioned in subsection (2) or a change in the value of a currency–

(a)the value of an asset held for the purposes of the pension scheme is reduced or a liability of the pension scheme is increased, and

(b)the value of an asset held by or for the benefit of the person is increased, a liability of the person is reduced, or a liability of another person is reduced for the benefit of the person.

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