{
  "url": "https://openlegislation.uk/teachers-superannuation-regulations-northern-ireland-1998/schedule-12/paragraph-5",
  "json_url": "https://openlegislation.uk/teachers-superannuation-regulations-northern-ireland-1998/schedule-12/paragraph-5.json",
  "legislation": "nisr/1998/333",
  "legislation_title": "Teachers' Superannuation Regulations (Northern Ireland) 1998",
  "legislation_url": "https://openlegislation.uk/teachers-superannuation-regulations-northern-ireland-1998",
  "path": "schedule/12/paragraph/5",
  "kind": "paragraph",
  "number": "5",
  "heading": null,
  "text": "(1) Subject to sub-paragraph (2) and paragraph 7(3), the notional interest to be credited to the account under regulation G2(4)(e) is the interest that would have accrued for the financial year—\n(a) from the notional investment that was referred to in regulation 83(1)(c) of the 1977 Regulations (investment referable to accumulated balance of revenue over expenditure as at 31st March 1971); and\n(b) from the notional investments of annual balances that were referred to in regulation 83(1)(b) of the 1977 Regulations (balances for financial years ending on or after 31st March 1972); and\n(c) in any financial year beginning after 31st March 1999, from the assumed investments at the end of preceding financial years described in paragraph 6(4),\nand half the interest that would have accrued for the financial year from the assumed investment described in paragraph 6(3).\n(2) There shall be deducted from the gross amount of the notional interest an amount equal to the income tax that would have been payable if the notional and assumed investments had been held for the purposes of a retirement benefits scheme approved under Chapter I of Part XIV of the Income and Corporation Taxes Act 1988 which was an exempt approved scheme within the meaning of that Chapter and which provided benefits comparable to those provided under these Regulations.",
  "extent": "N.I.",
  "status": "prospective",
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 12 para. 5 in operation at 2.11.1998, see reg. A1"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "Regulation 83 was as substituted by S.R. 1979 No. 380, Regulation 8 and Appendix 3, Regulations 79 to 81 were renumbered 80 to 92 by S.R. 1988 No. 64, Regulation 3(2)"
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "1988 c. 1"
    }
  ],
  "outstanding_effects": [
    {
      "type": "coming into force",
      "affecting": "nisr/1998/333",
      "affecting_title": "Teachers' Superannuation Regulations (Northern Ireland) 1998"
    },
    {
      "type": "coming into force",
      "affecting": "nisr/1998/333",
      "affecting_title": "Teachers' Superannuation Regulations (Northern Ireland) 1998"
    },
    {
      "type": "coming into force",
      "affecting": "nisr/1998/333",
      "affecting_title": "Teachers' Superannuation Regulations (Northern Ireland) 1998"
    },
    {
      "type": "coming into force",
      "affecting": "nisr/1998/333",
      "affecting_title": "Teachers' Superannuation Regulations (Northern Ireland) 1998"
    },
    {
      "type": "coming into force",
      "affecting": "nisr/1998/333",
      "affecting_title": "Teachers' Superannuation Regulations (Northern Ireland) 1998"
    },
    {
      "type": "coming into force",
      "affecting": "nisr/1998/333",
      "affecting_title": "Teachers' Superannuation Regulations (Northern Ireland) 1998"
    },
    {
      "type": "coming into force",
      "affecting": "nisr/1998/333",
      "affecting_title": "Teachers' Superannuation Regulations (Northern Ireland) 1998"
    },
    {
      "type": "omitted",
      "affecting": "nisr/2005/181",
      "affecting_title": "The Teachers' Superannuation (Amendment) Regulations (Northern Ireland) 2005"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisr/1998/333/schedule/12/paragraph/5",
    "retrieved_at": "2026-10-29T02:22:46.816065+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}