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Paragraph 3

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

The net contribution shall be a sum equal to 82 ½ per cent of the gross contribution, except that—

(a)

where the gross contribution does not exceed £4 every four weeks and the said sum is not a multiple of one halfpenny, the said sum shall be rounded off to the nearer halfpenny, or, if the said sum is a multiple of one half of one halfpenny, to the nearer penny, and

(b)

where the gross contribution exceeds £4 every four weeks and the said sum is not a multiple of one penny, the said sum shall be rounded off to the nearer penny, or, if the said sum is a multiple of one halfpenny, to the nearer even penny.