Regulation 4

A resolution adopting the prescribed scheme may provide that in respect of any specified class of contract made by the society before 6th April 1979 to which the scheme applies under which the contribution does not exceed £4 every four weeks the contribution shall be increased with effect from that date to such sum as after deduction of 17 ½ per cent thereof equals the amount expressed in the contract to be the contribution.

Where such provision is made the resolution shall operate so as to effect the above mentioned increase in the contribution payable under every contract of a class to which the provision relates, and the prescribed scheme shall take effect accordingly.