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7.—(1) Regulation 15 (interpretation) is amended as follows.
(2) For paragraph (1) substitute—
“(1) In these Regulations—
(a)“income allocation” means the distribution of an amount to participants; and
(b)“distribution” includes the crediting of an amount to the capital part of the scheme property on behalf of a participant in respect of the participant’s accumulation units.”.
(3) In paragraph (2), for “distribution to participants” substitute “income allocation to participants”.
(4) Omit paragraph (3).
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