178 The levy ceiling
Pensions Act 2004 (2004 c 35) | Legislation

178  The levy ceiling

(1)     The Secretary of State must, before the beginning of each financial year for which levies are required to be imposed under section 175, specify by order the amount which is to be the levy ceiling for that year for the purposes of section 177.

(2)     An order under subsection (1) in respect of the first financial year for which levies are imposed under section 175 may be made only with the approval of the Treasury.

(3)     Subject to subsection (8), the amount specified under subsection (1) for a financial year (“the current year”) after the first

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