Schedule 1, paragraph 5(1)

A scheme is a ring-fencing transfer scheme if it— is one under which the whole or part of the business carried on— is to be transferred to another body (“the transferee”), by a UK authorised person, or by a qualifying body, is to be made for one or more of the purposes mentioned in subsection (3), and is not an excluded scheme or an insurance business transfer scheme.

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Source: legislation.gov.uk · retrieved 2026-09-04