12In section 26 (contracting-out)—
(a)in subsection (1), for the words “the requisite benefits” there shall be substituted the words “a guaranteed minimum pension”; and
(b)in subsection (2), for the words from the beginning to “such pension” there shall be substituted the words “ “Guaranteed minimum pension” means any pension which is provided by an occupational pension scheme in accordance with the requirements of sections 33 and 36 below ”.