Regulation 4 Return of repaid contributions

Regulation C14(8) of the principal Regulations is amended by substituting for the words after “exceed” the following:

“(A – B), where–

A

is 9 per cent of the annual rate of the person’s contributable salary at the date on which notice of the election is received, and

B

is the excess over 6 per cent of that rate of any amounts to be deducted under regulation C16.”.