Regulation 4 Amendment of regulation 19

Regulation 19 (actuarial valuations) is amended as follows.

In paragraph (4)(k), after sub-paragraph (iv) insert—

“(v)

any variation to the multi-annual reduction as a result of applying an increase to offset the planned reduction under the multi-annual reduction in accordance with regulation 17(10), including the effect of that offsetting increase on the planned reduction in the remaining years of the multi-annual reduction;”.

After paragraph (4)(k) insert—

“(ka)

where a multi-annual reduction would have been in effect as at the effective date but has ceased to have effect in accordance with regulation 17(10C), the details of—

(i)

when such multi-annual reduction ceased to have effect;

(ii)

any remaining increase that has been applied in accordance with regulation 17(10C);”.