Amendment of Part 5 (annual and initial payments)
6. (1) In regulation 17 (annual payments), for paragraph (1) substitute—
“(1) Schedule 2 makes provision for the determination of the amount of annual payments to be paid to, or in respect of, qualifying members of qualifying pension schemes including provision for a cap to be imposed on such amounts.”.
(2) In regulation 18 (initial payments)—
(a)in paragraph (1), omit “Subject to paragraph (4A),”;
(b)omit paragraph (4A);
(c)after paragraph (9), insert—
“(9ZA) The power to redetermine the amount of an initial payment under paragraph (9) includes the power to redetermine that amount as a result of a change in the amount of interim pension being paid to the beneficiary.”; and
(d)for paragraph (10) substitute—
“(10) In this regulation “interim pension” has the meaning given in paragraph 2 of Schedule 2.”.