(1) The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 [S.I. 2005/1529, to which there are amendments not relevant to this instrument. ] is amended as follows.

(2) In article 72(4) for the definition of "personal pension scheme" substitute -

""personal pension scheme" means a scheme or arrangement which is not an occupational pension scheme or a stakeholder pension scheme and which is comprised in one or more instruments or agreements, having or capable of having effect so as to provide benefits to or in respect of people -

(a) on retirement,

(b) on having reached a particular age, or

(c) on termination of service in an employment.".

(3) For paragraph 20 (rights under a stakeholder pension scheme) of Part 2 of Schedule 1, substitute -

"20. Rights under a pension scheme

(1) Rights under a stakeholder pension scheme.

(2) Rights under a personal pension scheme.

(3) "Stakeholder pension scheme" and "personal pension scheme" have the meanings given by article 72(4).".