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Paragraph 1 F1

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

(1)

The amount referred to in section 45(2)(d) is to be calculated as follows—

(a)

calculate the appropriate amount for each of the relevant years within section 45(2)(d) to which Part 2 of this Schedule applies;

(b)

calculate the appropriate amount for each of the relevant years within section 45(2)(d) to which Part 3 of this Schedule applies; and

(c)

add those amounts together.

(2)

But if the resulting amount is a negative one, the amount referred to in section 45(2)(d) is nil.

Annotations

Textual amendments

F1

Sch. 4B inserted (26.9.2007) by Pensions Act 2007 (c. 22), s. 30(3), Sch. 2 para. 1