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3.—(1) Section 24 of the Pension Schemes Act shall be amended as follows.N.I.
(2) In subsection (4), for paragraph (d) there shall be substituted—
“(d)the amount of the lump sum is equal to the value on that date of the protected rights to which effect is being given.” .
Sub-paras. (3)(4) rep. by 2005 NI 1