59.—(1) Paragraph 2 of Schedule 3 (priority in bankruptcy, etc.: employer’s contributions to occupational pension scheme) is amended as follows.
(2) Omit sub-paragraphs (2) and (3) (sums owed on account of employer’s minimum payments to a money purchase contracted-out scheme).
(3) In sub-paragraph (3A) (definition of “the appropriate amount”)—
(a)in the opening words omit “or (3)”;
(b)in paragraph (a) omit “or (2) (as the case may be)”.
(4) In sub-paragraph (5) (interpretation)—
(a)omit the definition of “appropriate flat-rate percentage”;
(b)for the definition of “the percentage for contributing earners” substitute—
““the percentage for contributing earners” means 3 per cent.;”;
(c)for the definition of “the percentage for non-contributing earners” substitute—
““the percentage for non-contributing earners” means 4.8 per cent.;”.