Valid from 01/12/1999
[F197L Variation of the amount required to be used.N.I.
(1)Regulations may make provision for the amount required to be used under section 97F(1) to be increased or reduced in prescribed circumstances.
(2)Without prejudice to the generality of subsection (1), the circumstances which may be prescribed include—
(a)failure by the trustees or managers of a qualifying scheme to comply with a notice under section 97F(1) within 6 months of the date by reference to which the amount of the cash equivalent falls to be determined, and
(b)the state of funding of a qualifying scheme.
(3)Regulations under subsection (1) may have the effect of extinguishing an obligation under section 97F(1).]
Textual Amendments
F1Pt. 4A Chapters 1, 2 (ss. 97A-97Q) inserted (1.12.1999 for certain purposes and otherwise 1.12.2000) by S.I. 1999/3147 (N.I. 11), arts. 1(5)(a), 34; S.R. 2000/133, art. 2(3), Sch. Pt. IV