554Z16(1)  This Chapter applies if there is an undertaking (“the relevant undertaking”) that a contribution to which subsection (2) would apply will be paid.

554Z16(2)  This subsection applies to a contribution if–

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

(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,

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

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

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