Article 13 Modification of paragraph 20C of Schedule 36F1

in sub-paragraph (4), for the definition of B there were substituted—

• ““B” is the value of the individual's rights under the arrangement on 5th April 2006 calculated in accordance with sub-paragraph (5)(b) multiplied by 0.7154.”;

for sub-paragraph (5)(b) there were substituted—

“(b)

the value of the individual's rights under the arrangement on 5th April 2006 is the amount which would, on the valuation assumptions, be available for the provision of benefits to or in respect of the individual under the arrangement if the individual became entitled to the benefits on 5th April 2006.”.