Regulation 3 Amendment of regulation 3 of the principal Regulations

In regulation 3 of the principal Regulations (general provisions relating to the crediting of contributions)—

(a)

in the heading, after the word“contributions”there shall be added the words“and earnings”;

(b)

in paragraph (1) after the word“contributions”wherever it occurs there shall be inserted the words“or earnings”;

(c)

in paragraph (2)—

(i)

in sub-paragraph (a) for the words“Class 1 credits”there shall be substituted the words“be credited with earnings”,

(ii)

in sub-paragraph (a) for the words“Class 1 contributions”there shall be substituted the word“earnings”, and

(iii)

sub-paragraph (b) shall be deleted;

(d)

in paragraph (3)—

(i)

for the words“a credit”there shall be substituted the words“be credited with earnings or a contribution”, and

(ii)

for the words“that credit”there shall be substituted the words“be credited with those earnings or that contribution”.