Regulation 2
In regulation 4 of the Insurance Companies (Pensions Business) (Transitional Provisions) Regulations 1992f1 for paragraph (4) there shall be substituted the following paragraphs—
“(4)The prescribed percentage is 10 per cent. for an accounting period ending after 31st December 1994 and before 1st January 1996.
(5)Subject to paragraphs (2) to (4) above, the prescribed percentage is 7.5 per cent.”.