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Paragraph 7

Original text. Later amendments are not shown.

(1)

There shall be applied to each section the amount calculated under sub-paragraph (2) of this paragraph in respect of that section.

(2)

The amount referred to in sub-paragraph (1) of this paragraph shall be the value of the liabilities under the transferor scheme in respect of those pension rights transferred by article 2 of this Order and allocated to that section.

  • Provided that for all purposes of this paragraph

    1. (a)

      the unfunded proportion of any pension rights, and

    2. (b)

      any pension rights not in payment acquired by virtue of any additional voluntary contributions,

    shall be ignored.