SCHEDULE 1

PART II

6

1

Where paragraph 3 requires the Secretary of State to make any payment the Secretary of State shall also, on the same date, make a payment in respect of any interest which has accrued on and has been added to, or which is to accrue on, the outstanding balance of the Table A amount in respect of which paragraph 3 requires the Secretary of State to make payments, and the amount of any payment under this sub-paragraph shall be determined in accordance with the following provisions of this paragraph.

2

The amount of any payment to be made under sub-paragraph (1) shall be such amount as is determined by the Secretary of State after consultation with the actuaries and notified to the persons administering the section.

3

The Secretary of State shall make a determination on or before 14 March in each year in relation to the payments to be made under sub-paragraph (1) from 13 April in that year to 13 April in the following year, and shall, so far as reasonably practicable, determine the amounts so that the payments to be made each month during the period of 12 months from that 13 April are equal.

4

If, from 13 April in the year in which the determination referred to in sub-paragraph (3) is made to 13 April in the following year, the payments made under sub-paragraph (1) are less than the interest which has accrued under paragraph 4 on the outstanding balance of the Table A amount in respect of which the payments have been made the Secretary of State shall, as soon as reasonably practicable, pay an amount equal to the shortfall; and where the payments made under sub-paragraph (1) exceed the interest which has accrued under paragraph 4 on such outstanding balance, the excess shall be deducted from any other amount payable to the persons administering the section under this Order.

Table A

(1)

(2)

Year

Amount

£ million

1995

18.708

1996

17.232

1997

15.826

1998

14.501

1999

13.250

2000

12.070

2001

10.971

2002

9.937

2003

8.978

2004

8.084

2005

7.260

2006

6.492

2007

5.779

2008

5.121

2009

4.524

2010

3.972

2011

3.469

2012

3.023

2013

2.611

2014

2.249

2015

1.928

2016

1.642

2017

1.396

2018

1.175

2019

0.984

2020

0.823

2021

0.422

2022

0.402

2023

0.387

2024

0.372

2025

0.356

2026

0.341

2027

0.326

2028

0.316

2029

0.301

2030

0.291