1. The account that was required by regulation 80 of the 1977 Regulations to be kept by the Department shall be made up to 1st November 1998 as if the period beginning with and including 1st April 1998 and ending with 1st November 1998 had been an accounting period within the meaning of Part V of the 1977 Regulations.
2.—(1) References in regulations G1 to G3 and in this Schedule to a financial year shall be construed as including references to the period beginning with and including 2nd November 1998 and ending with 31st March 1999.
(2) In relation to that period—
(a)the reference in regulation G2(4)(a) to the closing balance in the account for the preceding financial year shall be construed as a reference to the closing balance in the account mentioned in paragraph 1 for the period mentioned in that paragraph; and
(b)the reference in paragraph 6(2) to 1st October in the financial year shall be construed as a reference to 1st October 1998.
3.—(1) For the purposes of Part G—
(a)the inquiry which was required by regulation 86(1) of the 1977 Regulations to be made with respect to the account mentioned in paragraph 1 at the end of the accounting period ending with 31st March 1998 shall be treated as having been an inquiry required by regulation G4(1); and
(b)the report on that inquiry shall be treated as a report made in compliance with regulation G4(2),
and accordingly for the purposes of regulation G5 (employers' contributions) the first relevant period is the period beginning on 1st April next following the date of that report.
(2) During the period beginning with and including 2nd November 1998 and ending immediately before the start of the first relevant period regulation G5 applies as if that period had been a relevant period and the required percentage had been 7.85.