OpenLegislation

Paragraph 2

Original text. Later amendments are not shown.

(1)

The contribution period must be one of not less than one year, and begins on the first day of the month following the expiry of a period of one month from the date of acceptance of the election by the Secretary of State.

(2)

The contribution period and the past period must be such that

A+B

does not exceed 15% of the person's contributable salary for the time being, where—

  • A is the rate at which the additional contributions are payable, and

  • B is the rate at which he pays other contributions under Part C (except any treated for the purposes of regulation G2 as employers' contributions) or towards the provision of a pension otherwise than under these Regulations.