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Paragraph 12

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

In paragraph 16—

(a)

in sub-paragraph (2), the substitution, for “to provide such guaranteed minimum pensions”, of “to make provision for such protected rights”;

(b)

the omission of sub-paragraph (3)(b);

(c)

the omission of sub-paragraph (4);

(d)

the substitution, for sub-paragraph (5)(a)(ii), of the following—

“(ii)

the scheme is ceasing to be an appropriate personal pension scheme within the meaning of Part I of the Social Security Act 1986,”; and

(e)

in sub-paragraph (5)(b), the insertion, after “section 49 above”, of “, as modified by regulation 3(2) of, and Schedule 2 to, the Personal and Occupational Pension Schemes (Modification of Enactments) Regulations 1987,”.