Related Commentary  

182(1)  A registered pension scheme is not authorised to borrow an amount in respect of a money purchase arrangement unless the arrangement borrowing condition is met.

182(2)  The arrangement borrowing condition is met if–

(APB + PB) <   VA


APB is the aggregate of the amounts previously borrowed in respect of the arrangement (excluding any amounts which have been repaid),

PB is the amount proposed to be borrowed in respect of the arrangement, and

VA is the value of the arrangement.

182(3)  The value of the arrangement is the aggregate of–

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