17.—(1) For paragraph 8 of that Schedule substitute the following paragraph—
“8. The rules shall provide for effect to be given to the protected rights of a member—
(a)in any case where sub-paragraph (2) of paragraph 9 so requires, by the purchase of such an annuity as is mentioned in that sub-paragraph; and
(b)in any other case, in such of the ways permitted by that paragraph as the rules may specify,
and they shall not provide for any part of a member’s protected rights to be discharged otherwise than in accordance with that paragraph.”.
(2) In sub-paragraph (2) of paragraph 9 of that Schedule (cases in which protected rights may be given effect by purchase of annuity)—
(a)at the beginning insert “Subject to sub-paragraphs (4) and (6),”; and
(b)for “effect may be given to protected rights” substitute “then, except to the extent that effect is given to protected rights in accordance with sub-paragraph (3), effect shall be given to those rights”.
(3) After sub-paragraph (7) of that paragraph (half rate pension or annuity for earner’s widow or widower, etc.) insert the following sub-paragraph—
“(7A) As respects the period of 5 years beginning with the commencement of the pension or annuity referred to in sub-paragraph (7), that sub-paragraph shall have effect in relation to that pension or annuity as if the words “at least” were inserted immediately before the words “one-half” in head (b)(i).”.