Regulation 14 Elections to pay AVCs

(1)

In regulation 60—

(a)

after paragraph (2), insert the following paragraphs—

“(2A)
An election may be made in respect of each employment in respect of which he is a member.

(2B)
The maximum a person may specify under paragraph (2) in respect of each employment for which he makes such an election is 50 per cent of the remuneration of that employment or an amount equal to 50 per cent of the remuneration of that employment.”; and

(b)

in paragraph (3), for “It” substitute “The election”.

(2)

In regulation 61(1), after the words “usual pay day” add “and must be paid from his pay”.