37.—(1) In Article 46 of the 1999 Order (creation of state scheme pension debits and credits), for paragraph (4) there shall be substituted—
“(4) The Department may by regulations make provision for the calculation and verification of cash equivalents for the purposes of this Article.
(4A) The power conferred by paragraph (4) includes power to provide—
(a)for calculation or verification in such manner as may be approved by or on behalf of the Government Actuary, and
(b)for things done under the regulations to be required to be done in accordance with guidance from time to time prepared by a person prescribed by the regulations.” .
(2) In section 45B of the Contributions and Benefits Act (reduction of additional pension in Category A retirement pension: pension sharing), for subsection (7) there shall be substituted—
“(7) The Department may by regulations make provision for the calculation and verification of cash equivalents for the purposes of this section.
(7A) The power conferred by subsection (7) above includes power to provide—
(a)for calculation or verification in such manner as may be approved by or on behalf of the Government Actuary, and
(b)for things done under the regulations to be required to be done in accordance with guidance from time to time prepared by a person prescribed by the regulations.” .
(3) In section 55A of that Act (shared additional pension), for subsection (6) there shall be substituted—
“(6) The Department may by regulations make provision for the calculation and verification of cash equivalents for the purposes of this section.
(6A) The power conferred by subsection (6) above includes power to provide—
(a)for calculation or verification in such manner as may be approved by or on behalf of the Government Actuary, and
(b)for things done under the regulations to be required to be done in accordance with guidance from time to time prepared by a person prescribed by the regulations.” .
(4) In section 55B of that Act (reduction of shared additional pension: pension sharing), for subsection (7) there shall be substituted—
“(7) The Department may by regulations make provision for the calculation and verification of cash equivalents for the purposes of this section.
(7A) The power conferred by subsection (7) above includes power to provide—
(a)for calculation or verification in such manner as may be approved by or on behalf of the Government Actuary, and
(b)for things done under the regulations to be required to be done in accordance with guidance from time to time prepared by a person prescribed by the regulations.” .