7(1)In section 55 of the [1993 c. 48.] Pension Schemes Act 1993 (contributions equivalent premiums)—
(a)in subsection (2), after “the prescribed person” insert “shall, if subsection (2B) applies, pay and otherwise”;
(b)in subsection (2A), omit the words following paragraph (e); and
(c)after that subsection insert—
“(2B)Except in prescribed circumstances, this subsection applies in any case where the earner has no accrued right to any benefit under the scheme.
(2C)Where a contributions equivalent premium is required to be paid in respect of an earner by virtue of subsection (2), the prescribed person must notify the Inland Revenue of that fact within the prescribed period and in the prescribed manner.”
(2)In section 51 of the [1993 c. 49.] Pension Schemes (Northern Ireland) Act 1993 (contributions equivalent premiums)—
(a)in subsection (2), after “the prescribed person” insert “shall, if subsection (2B) applies, pay and otherwise”;
(b)in subsection (2A), omit the words following paragraph (e); and
(c)after that subsection insert—
“(2B)Except in prescribed circumstances, this subsection applies in any case where the earner has no accrued right to any benefit under the scheme.
(2C)Where a contributions equivalent premium is required to be paid in respect of an earner by virtue of subsection (2), the prescribed person must notify the Inland Revenue of that fact within the prescribed period and in the prescribed manner.”