Prospective
Cash equivalents: calculation and verificationE+W+S
8(1)The regulations may provide for the manner in which cash equivalents are to be calculated and verified.E+W+S
(2)The regulations may in particular—
(a)provide that a cash equivalent is to be increased or reduced in prescribed circumstances;
(b)make provision about the time by reference to which a cash equivalent is to be calculated for the purposes of a provision of the regulations.
(3)Regulations made because of sub-paragraph (2)(a) may provide for a cash equivalent to be reduced to nil.