Rates of interest
18. In paragraph (3) of regulation 69 of the 1994 Regulations (rates of interest), for sub-paragraph (b) substitute—
“(b)the future income from any asset required to be taken into account (whether interest, dividends or repayment of capital) shall be reduced by a proportion corresponding to such of the excess exposure to assets of that description, calculated in accordance with paragraph 12 of Schedule 12 to these Regulations, as may reasonably be attributed to such assets.”