After subsection (3) of section 3 of the Contributions and Benefits Act there shall be inserted the following subsections—
“(4)Subsection (5) below applies to regulations made for the purposes of subsection (2) above which make special provision with respect to the earnings periods of directors and former directors of companies.
(5)Regulations to which this subsection applies may make provision—
(a)for enabling companies, and directors and former directors of companies, to pay on account of any earnings-related contributions that may become payable by them such amounts as would be payable by way of such contributions if the special provision had not been made; and
(b)for requiring any payments made in accordance with the regulations to be treated, for prescribed purposes, as if they were the contributions on account of which they were made.”
Commencement Information
I1S. 49 in force at 8.9.1998 by S.I. 1998/2209, art. 2(a), Sch. Pt. I