SCHEDULE 1The New Provisions
PART 2:BENEFITS AND THE ADMINISTRATION OF BENEFITS
23.CONTRIBUTIONS TO THE CAA SECTION
Limit on Members' contributions23.4
No Current Member shall, during any year of assessment to tax under Schedule E, pay to the CAA Section contributions of such amounts that the aggregate of such contributions and of any contributions paid by him in respect of his Service during that year to any other retirement benefits schemes in respect of that Member which are approved or seeking approval under Chapter I of Part XIV of the Taxes Act would exceed 15 per cent (or such higher percentage as the Board of Inland Revenue may in a particular case prescribe) of his total remuneration from the Employers in that year which is assessable to tax under Schedule E, provided always that for the purposes of this Rule:
a
there shall be excluded from total remuneration anything in respect of which tax is chargeable under Schedule E and which arises from the acquisition or disposal of shares or an interest in shares or from a right to acquire shares, or anything in respect of which tax is chargeable by virtue of section 148 of the Taxes Act44; and
b
in respect of Class A Members and Class B Members who became Current Members on or after 1 June 1989 (other than Continued Rights Members):
i
the reference above in this paragraph to “other retirement benefits schemes” shall be taken to include any Associated Scheme or any other Section of the Scheme and the references to “total remuneration” shall be taken to include emoluments in respect of Associated Employment or any Connected Scheme; and
ii
remuneration in excess of the Permitted Maximum shall be disregarded.