# Finance Act 2011, Paragraph 26


In paragraph 3 (pension commencement lump sum: calculation of applicable amount), in sub-paragraph (7), for the definition of “AC” substitute—
“AC is—
(a) in a case where the member becomes entitled to the pension before reaching the age of 75, the amount crystallised by reason of the member becoming entitled to the pension, disregarding paragraph 3 of Schedule 32, and
(b) in a case where the member becomes entitled to the pension after reaching that age, the amount that would have been so crystallised (disregarding that paragraph) but for paragraph 2 of that Schedule.”

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Source: https://www.legislation.gov.uk/ukpga/2011/11/schedule/16/paragraph/26 (the official version)
Page: https://openlegislation.uk/finance-act-2011/schedule-16/paragraph-26
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.