Regulation 2 Amounts to be raised by the pension protection levies in 2007-2008
For the first financial year after the transitional periodf1, the reference in section 177(2) of the Act (amounts to be raised by the pension protection levies) to “the levy ceiling for the financial year”f2 shall be read as if it were a reference to “£718,750,000”.
Annotations
Footnotes
- f1
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See regulation 2 of S.I. 2006/566 which provides that the transitional period is the period of 12 months beginning on 1st April 2006.
- f2
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See article 2 of S.I. 2006/742 which provides that the levy ceiling for the financial year beginning on 1st April 2006 is £775,000,000.