# Pensions Act 2008, Paragraph 18


For paragraph 35(3) substitute—
“(3) This sub-paragraph applies to a scheme if, in calculating the protected liabilities in relation to the scheme at the relevant time, the effect of taking into account—
(a) any recent rule changes, and
(b) any recent discretionary increases,
is that those liabilities are greater than they otherwise would be.”

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Source: https://www.legislation.gov.uk/ukpga/2008/30/schedule/8/paragraph/18 (the official version)
Page: https://openlegislation.uk/pensions-act-2008/schedule-8/paragraph-18
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.