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Paragraph 6

United Kingdom

(1)

This paragraph applies where an employee becomes a member of the scheme on or after 17th March 1987.

C1(2)

If the rules of the scheme allow the employee to obtain, (by commutation of his pension or otherwise), a lump sum or sums calculated by reference to his relevant annual remuneration, they shall have effect as if they included a rule that in calculating a lump sum any excess of that remuneration over the permitted maximum should be disregarded.

Annotations

Modifications

C1

See S.I.1988 No.1436 (in Part III Vol.5)for circumstances when paras.2-4and 5(2), 5(3), 6and 7disapplied, and when paras.5(3), (4)modified.

Notes on Schedule 23

Textual amendments

F1

Sch. 23 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)