OpenLegislation

Paragraph 7

Original text. Later amendments are not shown.

In paragraph 7—

(a)

in sub-paragraph (2), for the definition of “Y” there shall be substituted the following—

  • ““Y” means, subject to sub-paragraph (2A), the sum of—

    1. (a)

      the amount specified in column 2 of Table B in relation to the year in which the valuation date of the relevant actuarial valuation in relation to the relevant year occurs (“the specified amount”) and any interest added to the outstanding balance of any such amount under paragraph 5(1) or (3) or 7(1); and

    2. (b)

      any amount specified in column 2 of Table B below the specified amount in relation to which there is no subsisting duty to make payments under paragraph 2 or 3 (or, where more than nine such amounts are so specified, the nine such amounts immediately following the specified amount) and any interest added to the outstanding balance of any such amount under paragraph 5(1) or (3) or 7(1); and

    3. (c)
      1. (i)

        the amount (if any) specified in column 2 of Table B of Schedule 2 to the 1995 Order in relation to the year in which the valuation date of the relevant actuarial valuation in relation to the relevant year occurs (in so far as it remains unpaid) (“the relevant amount”) and any interest added to the outstanding balance of that amount under paragraph 5(1) or (3) or 7(1) of Schedule 2 to that Order; and

      2. (ii)

        any amount specified in column 2 of Table B of that Schedule below the relevant amount in relation to which there is no subsisting duty to make payments under paragraph 2 or 3 of that Schedule (or, where more than nine such amounts are so specified, the nine such amounts immediately following the relevant amount) and any interest added to the outstanding balance of any such amount under paragraph 5(1) or (3) or 7(1) of that Schedule; and

    4. (d)
      1. (i)

        the amount (if any) specified in column 2 of Table B of Schedule 1 to the 2001 Order in relation to the year in which the valuation date of the relevant actuarial valuation in relation to the relevant year occurs (in so far as it remains unpaid) (“the relevant amount”) and any interest added to the outstanding balance of that amount under paragraph 5(1) or (3) or 7(1) of Schedule 1 to that Order; and

      2. (ii)

        any amount specified in column 2 of Table B of that Schedule below the relevant amount in relation to which there is no subsisting duty to make payments under paragraph 2 or 3 of that Schedule (or, where more than nine such amounts are so specified, the nine such amounts immediately following the relevant amount) and any interest added to the outstanding balance of any such amount under paragraph 5(1) or (3) or 7(1) of that Schedule;

      excluding any part of any such amount or interest which has been paid.”;

  • and

    1. (b)

      for sub-paragraph (2A), there shall be substituted the following—

      “(2A)

      For the purposes of calculating Y—

      (a)

      in sub-paragraph (b) of the definition of Y the reference to any amount specified in column 2 of Table B in relation to which there is no subsisting duty to make payments shall be taken to include a reference to a composite amount in relation to any part of which there is no subsisting duty to make payments under paragraph 2 or 3;

      (b)

      in sub-paragraphs (c)(ii) and (d)(ii) of the definition of Y the reference to any amount specified in column 2 of Table B of Schedule 2 to the 1995 Order or of Schedule 1 to the 2001 Order, as the case may be, in relation to which there is no subsisting duty to make payments under paragraph 2 or 3 of the relevant Schedule shall be taken to include a reference to a composite amount in relation to any part of which there is no subsisting duty to make payments under either of those paragraphs;

      (c)

      in sub-paragraphs (a) and (b) of the definition of Y there shall be excluded from the amounts referred to in those sub-paragraphs any Table B amount comprised in a composite amount and in relation to which there is a subsisting duty to make payment;

      (d)

      in sub-paragraphs (c) and (d) of the definition of Y there shall be excluded from the amounts referred to in the relevant sub-paragraph any amount specified in column 2 of Table B of Schedule 2 to the 1995 Order or of Schedule 1 to the 2001 Order, as the case may be, comprised in a composite amount and in relation to which there is a subsisting duty to make payment under the relevant Schedule;

      (e)

      Table B shall be treated as if—

      (i)

      in column 1, before the year first specified, the years 1998 to 2003 were each specified, and

      (ii)

      in column 2, in relation to each of those years, the amount specified were zero; and

      (f)

      Table B of Schedule 2 to the 1995 Order and of Schedule 1 to the 2001 Order shall be treated as if—

      (i)

      in column 1, before the year first specified, the years 1998 to 2004 and 1998 to 2010 respectively were each specified, and

      (ii)

      in column 2, in relation to each of those years, the amount specified were zero.”.