Insertion of new paragraph 55 in Schedule 3 (Commutation: small pensions)
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Memorandwm Esboniadol
51. In Schedule 3, after paragraph 54, insert—
“Commutation: small pensions
55. An application by a transition member under regulation 162 (application for payment of benefits) for a commutation under regulation 174 (commutation: small pensions) also has effect as an application for any commutation due to P under regulation 119 (commutation: small pensions) of the existing scheme regulations.”.