{
  "url": "https://openlegislation.uk/social-security-contributions-regulations-2001/schedule-4/paragraph-29S",
  "json_url": "https://openlegislation.uk/social-security-contributions-regulations-2001/schedule-4/paragraph-29S.json",
  "legislation": "uksi/2001/1004",
  "legislation_title": "The Social Security (Contributions) Regulations 2001",
  "legislation_url": "https://openlegislation.uk/social-security-contributions-regulations-2001",
  "path": "schedule/4/paragraph/29S",
  "kind": "paragraph",
  "number": "29S",
  "heading": "Application for reduction in the value of security held",
  "text": "(1) A person who has given security (“PGS”) may apply to an officer of Revenue and Customs for a reduction in the value of security held by HMRC if—\n(a) PGS' circumstances have changed since the day the security was given because—\n(i) of hardship; or\n(ii) PGS has ceased to be a person mentioned in paragraph 29P(1); or\n(b) since the day the security was given there has been a significant reduction in the number of employed earners of the employer to whom the security relates or that employer has ceased to be an employer.\n(2) Where paragraph 29P(2)(b) applies, a person who has not contributed to the value of the security given may not make an application under sub-paragraph (1).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 4 Pt. 3B inserted (6.4.2012) by The Social Security (Contributions) (Amendment No. 3) Regulations 2012 (S.I. 2012/821), regs. 1(1), 18"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2001/1004/schedule/4/paragraph/29S",
    "retrieved_at": "2026-10-29T07:54:35.441483+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}