Regulation 10 Amendment of Principal Regulations

In regulation G8 after paragraph (6) there shall be inserted the following paragraphs—

“(7)

Where regulation C3A applies, the employer of the person in pensionable employment shall—

(a)

pay contributions calculated in accordance with regulation G5 referable to the back period; and

(b)

pay interest on such contributions which have accrued on each reference date at 7% per annum, compounded with yearly rests from the reference date in question to the date of payment of the contributions, unless the Secretary of State determines that no such interest should be paid.

and in this paragraph “reference dates” shall be construed in accordance with regulation C3A.

(8)

Any sum which is due under paragraph (7)(a) shall be paid to the Secretary of State on receipt of a written demand (without prejudice to the obligation to pay the interest referred to in paragraph (7)(b)).”.