Regulation 10 Amendment of regulation 14

(1)

Regulation 14 (charges etc.—permitted reductions in members’ rights) shall be amended as follows.

(2)

In paragraph (5)—

(a)

in sub-paragraph (c) for “are incurred” substitute—

“(including any dilution levy) are incurred by the trustees or manager”;

(b)

after sub-paragraph (d) insert “ and ”;

(c)

after sub-paragraph (e) omit “and”; and

(d)

omit sub-paragraph (f).

(3)

In paragraph (8) omit “costs or”.