# Finance Act 2004, Paragraph 2

Extent: E+W+S+N.I.

In paragraph 1 “the permitted maximum”, in relation to a lump sum, means the lowest of the following amounts—
(a) the applicable amount in relation to the relevant pension (see paragraphs 2A to 2D);
(b) so much of the member’s lump sum allowance as is available on the member becoming entitled to the lump sum (see paragraph 12A);
(c) so much of the member’s lump sum and death benefit allowance as is available on the member becoming entitled to the lump sum (see paragraph 12A).

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Source: https://www.legislation.gov.uk/ukpga/2004/12/schedule/29/paragraph/2 (the official version)
Page: https://openlegislation.uk/finance-act-2004/schedule-29/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.