# The Industrial Assurance (Decimal Currency) Regulations 1970, Paragraph 5


Where the company or society has determined as mentioned in subparagraph (b) of the preceding paragraph, the amount in the new currency of a payment falling due before 22nd February 1971 which would otherwise fall to be determined under paragraph 3 shall be the amount corresponding to the amount in the old currency (being in the case of an amount reduced or increased by one halfpenny by virtue of the Industrial Assurance (Halfpenny) Regulations 1969 the amount so reduced or increased) payable under the contract calculated as follows—
(a) for any whole shilling or two shillings the corresponding amount in the new currency is respectively five new pence and ten new pence; and
(b) for any amount or remaining amount of less than one shilling shown in column 1 of the following table the corresponding amount in the new currency is the amount in new pence shown opposite that amount in column 2 of that table.
TABLE
Amount in old currency
Corresponding amount in new pence
1d
½p
2d
1p
3d
1p
4d
1½p
5d
2p
6d
2½p
7d
3p
8d
3½p
9d
4p
10d
4p
11d
4½p

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Source: https://www.legislation.gov.uk/uksi/1970/931/schedule/4/paragraph/5 (the official version)
Page: https://openlegislation.uk/industrial-assurance-decimal-currency-regulations-1970/schedule-4/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.