[342D Recovery of excessive contributions in pension-sharing cases]
[342D Recovery of excessive contributions in pension-sharing cases]

[(1)     For the purposes of sections 339, 341 and 342, a pension-sharing transaction shall be taken—

(a)     to be a transaction, entered into by the transferor with the transferee, by which the appropriate amount is transferred by the transferor to the transferee; and

(b)     to be capable of being a transaction entered into at an undervalue only so far as it is a transfer of so much of the appropriate amount as is recoverable.

(2)     For the purposes of sections 340 to 342, a pension-sharing transaction shall be taken—

(a)     to be something (namely a transfer of the appropriate amount to the transferee) done by the transferor; and

(b)     to be capable of being a preference given to the transferee only so far as it is a transfer of so much of the appropriate amount as is recoverable.

(3)     If on an application under section 339 or 340 any question arises as to whether, or the extent to which, the appropriate amount in the case of a pension-sharing transaction is recoverable, the question shall be determined in accordance with subsections (4) to (8).