Regulation 11 Amendments to the principal Regulations and further modifications to Schedule 19AB

Regulation 10 of the principal Regulations shall be amended as follows.

In paragraph (3) there shall be added at the end the following sub-paragraphs—

“(c)

for the words “assumptions in sub-paragraphs (1B) and (1C)” there shall be substituted the words “assumption in sub-paragraph (1B)”;

(d)

the words “or repaid” shall be omitted;

(e)

for “9(2)” there shall be substituted “9(3)”;

(f)

the words “or section 42(4) of the Management Act” shall be omitted;

(g)

paragraph (a) shall be omitted.”

In paragraph (4) there shall be added at the end the following sub-paragraphs—

“(c)

the word “first” shall be omitted;

(d)

the words “or repayments” shall be omitted;

(e)

paragraph (a) shall be omitted;

(f)

in paragraph (b) for the words “that sub-paragraph” there shall be substituted the words “sub-paragraph (1A) above”.”

For paragraph (5) there shall be substituted the following paragraph—

“(5)

Sub-paragraph (1C) shall be omitted.”

For paragraph (7) there shall be substituted the following paragraph—

“(7)

In sub-paragraph (8)—

(a)

for the word “company” (wherever occurring) there shall be substituted the word “society”;

(b)

the words “or repaid” shall be omitted;

(c)

paragraph (a) shall be omitted;

(d)

in paragraph (b) for the words “that sub-paragraph” there shall be substituted the words “sub-paragraph (1A) above”.”