Section 38 Modification of earnings factors.

in relation to the application of section 44(5A) of the 1992 Act by virtue of sections 39C(1) and 48BB(5) of that Act;

in relation to the application of section 44(5A) of the 1992 Act in the circumstances described in section 128(4) to (6) of the 1995 Act.

beginning with 6th April 2000, and

ending with the day before the first regulations under section 48A(5) of the 1993 Act (as amended by subsection (1) above) come into force,

the substitution made by section 128(1) of the 1995 Act shall be ignored; and

references in enactments to section 44(5A) of the 1992 Act shall (so far as necessary) be treated as references to section 44(5).

revising the calculation of a relevant pension;

paying a relevant pension in accordance with a revised calculation.

in the circumstances described in section 128(4) to (6) of the 1995 Act; and

in relation to persons where, by virtue of section 48A(1) of the 1993 Act, section 44(6) of the 1992 Act has effect in any tax year as mentioned in section 48A(1) of the 1993 Act in relation to some but not all of a person’s earnings.

the 1992 Act is the M3Social Security Contributions and Benefits Act 1992;

the 1993 Act is the M4Pension Schemes Act 1993;

the 1995 Act is the M5Pensions Act 1995.