FEES TP 1 Transitional Provisions

1.

FEES 3.2.7 R(p)

R

A firm does not have to pay a fee if:

2 October 2006 to 5 April 2007

1 June 2006

(1)

it is seeking only to increase the scope of its permission to include:

(a)

establishing, operating or winding up a personal pension scheme; or

(b)

(if the firm is in activity group A12 or A13) the designated investments:

(i)

personal pension scheme; or

(ii)

rights to or interests in a personal pension scheme, and

(2)

it was, as at 1 October 2006, carrying on what would become on 6 April 2007:

(a)

the regulated activity in (1)(a), or

(b)

a regulated activity in relation to the designated investments in (1)(b).

2.

FEES 4 Annex 1 R Part 3, Activity group A9 (operators, trustees and depositaries of collective investment schemes)

R

References to gross income received in connection with operating a personal pension scheme or a stakeholder pension scheme include gross income received in connection with operating a personal pension scheme or a stakeholder pension scheme before 6 April 2007, if and to the extent that, if the same activities had been carried out in relation to the same scheme on 6 April 2007 those activities would have amounted to operating a personal pension scheme or a stakeholder pension scheme.

From 6 April 2007 to 30 April 2008