Paragraph 80

(1)

Schedule 32 (benefit crystallisation events: supplementary) is amended as follows.

(2)

In paragraph 3 (benefit crystallisation events 1 and 2: prevention of overlap)—

(a)

in sub-paragraph (1), for “unsecured pension fund” substitute “ drawdown pension fund ”;

(b)

in sub-paragraph (2), for “unsecured pension” substitute “ drawdown pension ”.

(3)

In paragraph 4 (benefit crystallisation events 1 and 4: prevention of overlap)—

(a)

in sub-paragraph (1), for “unsecured pension fund” substitute “ drawdown pension fund ”;

(b)

in sub-paragraph (2), for “unsecured pension” substitute “ drawdown pension ”.

(4)

In paragraph 5 (benefit crystallisation events 1 and 5: hybrid arrangements), in sub-paragraph (2), omit the words from “(with the effect that” to the end.

(5)

In paragraph 17 (benefit crystallisation event 8: prevention of overlap with other events), in sub-paragraph (2)—

(a)

for “unsecured pension fund” substitute “ drawdown pension fund ”;

(b)

for “unsecured pension” substitute “ drawdown pension ”.