23(1)Paragraph 2 of that Schedule (the permitted maximum) is amended as follows.U.K.
(2)In sub-paragraph (6), in the definition of AAC, for “amounts crystallised by” substitute “ relevant amount in the case of ”.
(3)After that sub-paragraph insert—
“(6A)Subject to sub-paragraph (6B), the relevant amount in the case of a benefit crystallisation event is the amount crystallised by it.
(6B)If the benefit crystallisation event is becoming entitled to a scheme pension under a money purchase arrangement, the relevant amount in the case of the benefit crystallisation event is the aggregate of—
(a)the amount of such of the sums held for the purposes of the pension scheme, and
(b)the market value of such of the assets held for the purposes of the pension scheme,
as are applied in (or in connection with) the purchase or provision of the scheme pension and any related dependants' scheme pension.”
(4)In sub-paragraph (7), for “an amount crystallised by” substitute “ the relevant amount in the case of ”.