SCHEDULES
SCHEDULE 1Transfer of Contributions Agency functions and associated functions
Income and Corporation Taxes Act 1988 (c. 1)
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1
Section 649 of the Income and Corporation Taxes Act 1988 (minimum contributions under section 43 of the Pension Schemes Act 1993) is amended as follows.
2
In subsection (1), for “Secretary of State pays” there is substituted “Board pay”.
3
In subsection (3), for “Secretary of State” there is substituted “Board”.
4
In subsection (4), paragraphs (a) and (b) are omitted.
5
For subsection (5) there is substituted—
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The Board shall pay into the National Insurance Fund out of money provided by Parliament the amount of any increase attributable to this section in the sums paid out of that Fund under the Pension Schemes Act 1993.
6
In subsection (6)(a), for “references to the Secretary of State” there is substituted “in subsections (1) and (3) references to the Board”.