Regulation 8

For regulation 3.1 substitute—

“3.1

(1)

Paragraph (2) shall apply where a member of a scheme constituted under Part I of the 1993 Act or an existing scheme wishes to make contributions to a FSAVC scheme for the purpose of improving his personal pension benefits or the lump sum payable by virtue of his having died in service.

(2)

Notwithstanding the provisions of section 18, there shall be taken into account for the purpose of assessing the maximum amount of contributions the member is entitled to make—

(a)

in relation to the personal pension benefits, the member’s retained benefits;

(b)

in relation to the lump sum payble by virtue of the member having died in service, the member’s retained death benefits.

(3)

Paragraph (2) shall not apply where the member makes contributions to a FSAVC scheme for any purpose other than that set out in paragraph (1).”.