20—(1) The Board may determine the percentage that is to be—N.I.
(a)the maximum revaluation rate for the purposes of paragraph 8(4)(b);
(b)the appropriate percentage for the purposes of paragraph 17(2).
(2) Before making a determination under this paragraph the Board must—
(a)consult such persons as it considers appropriate, and
(b)publish details of the proposed determination in such manner as it considers appropriate and consider any representations made in respect of it.
(3) The rate determined under this paragraph may be nil.
(4) A determination under this paragraph may be expressed so as to have effect for a limited period.
(5) A determination under sub-paragraph (1)(b)—
(a)has effect in relation to future increases under paragraph 17 only, and
(b)may be expressed to have effect—
(i)in all cases (whether the entitlement to the periodic compensation first arose before or after the date the determination is made), or
(ii)only in cases where entitlement to the periodic compensation first arose on or after a date determined by the Board.
[F1(5A) A determination under sub-paragraph (1)(b) which has effect as mentioned in sub-paragraph (5)(b)(ii) may provide that, where the payment of periodic compensation to the transferee is postponed by virtue of paragraph 16A, the determination applies as if the transferee first becomes entitled to the periodic compensation on the day on which the periodic compensation commences.]
(6) Notice of any determination under this paragraph must be published in such manner as the Board considers appropriate.
Textual Amendments
F1Sch. 4 para. 20(5A) inserted (27.3.2013) by Pensions Act (Northern Ireland) 2012 (c. 3), s. 34(3), Sch. 4 para. 36; S.R. 2013/83, art. 2(b)(iii)