11(1)Section 599 (charge to tax: commutation of entire pension in special circumstances) shall be amended as follows.
(2)In subsection (2)(b) the word “relevant” shall be inserted before the words “statutory scheme”.
(3)After subsection (9) there shall be inserted—
“(10)In subsection (1)(a) above “the permitted maximum” means, as regards a charge to tax arising under this section in a particular year of assessment, the figure found for that year by virtue of subsections (11) and (12) below.
(11)For the years 1988-89 and l989-90 the figure is £60,000.
(12)For any subsequent year of assessment the figure is the figure found for that year, for the purposes of section 590C, by virtue of section 590C(4) and (5).”