Regulation 4 Contributions by participating office holders

In sub-paragraph (3)(b) after the words “15th July 2002” there shall be inserted the words “and ending before 1st April 2004”.

At the end of sub-paragraph (3)(b) before the full stop there shall be inserted—

• ”; or

  1. (c)

     in relation to a period beginning on or after 1st April 2004,

     1. (i)

        is 10 per cent; or

     2. (ii)

        where a participating office holder opts to contribute to the Fund at a reduced rate, is 6 per cent”.

There shall be substituted for paragraph (3A)—

“(3A)

Where a person who is an office holder on 15th July 2002 opts to contribute to the Fund on or after 5th July 2001 at the rate of 9 per cent, the appropriate percentage—

(a)

in relation to a payment of salary made in respect of a period beginning on or after 1st April 1992 and ending before 5th July 2001, is 6 per cent;

(b)

in relation to a period beginning on or after 5th July 2001 and ending before 1st April 2004, is 9 per cent; and

(c)

in relation to a period beginning on or after 1st April 2004, is 10 per cent.”