Paragraph 8

If the benefits payable to a person in consequence of the payment of contributions under regulation C11, when aggregated with the other benefits payable to him under these regulations, exceed the maximum benefits payable if the occupational pension scheme or schemes represented by these regulations were to expect to continue to qualify as exempt approved schemes for the purposes of Chapter I of Part XIV of the Act of 1988, the benefits payable under Part E shall be reduced so far as is necessary to secure that those maximum benefits are not exceeded.

Before reducing any benefits under sub-paragraph (1), the Committee shall consult the Commissioners of Inland Revenue.