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5.—(1) Where paragraph 2 requires the Secretary of State to make any payment in respect of a relevant Table A amount the Secretary of State shall also, on the same date, make a payment in respect of any interest which has accrued or is accruing in respect of that relevant Table A amount under paragraph 4, and the amount of any payment under this paragraph shall be determined in accordance with the following provisions of this paragraph.
(2) Any payment to be made under this paragraph shall be such amount as is determined by the Secretary of State after consultation with the actuaries and notified to the persons administering the Paragraph 2 Section and the Paragraph 5 Section.
(3) The Secretary of State shall make a determination on or before 14th March in each year of the payments to be made under this paragraph from 13th April in that year to 13th April in the following year, and shall, so far as reasonably practicable, determine the amounts so that each of the payments to be made is equal.
(4) Where, in respect of any relevant Table A amount, the final payment under paragraph 2 has been made but the sum of the payments made under this paragraph and the interest which has accrued under paragraph 4 are not equal then—
(a)if the sum of the said payments is less than the said interest the Secretary of State shall, as soon as is reasonably practicable, pay an amount equal to the shortfall; and
(b)if the sum of the said payments exceeds the said interest the excess shall be deducted from any other amount payable to the persons administering the Paragraph 2 Section and the Paragraph 5 Section.
Column 1 | Column 2 |
---|---|
YEAR | AMOUNT |
£ million | |
1995 | 0.157 |
1996 | 0.125 |
1997 | 0.116 |
1998 | 0.108 |
1999 | 0.101 |
2000 | 0.100 |
2001 | 0.089 |
2002 | 0.083 |
2003 | 0.074 |
2004 | 0.069 |
2005 | 0.063 |
2006 | 0.059 |
2007 | 0.058 |
2008 | 0.057 |
2009 | 0.048 |
2010 | 0.047 |
2011 | 0.048 |
2012 | 0.038 |
2013 | 0.041 |
2014 | 0.036 |
2015 | 0.031 |
2016 | 0.029 |
2017 | 0.022 |
2018 | 0.021 |
2019 | 0.021 |
2020 | 0.016 |
2021 | 0.014 |
2022 | 0.013 |
2023 | 0.013 |
2024 | 0.012 |
2025 | 0.012 |
2026 | 0.011 |
2027 | 0.011 |
2028 | 0.010 |
2029 | 0.010 |
2030 | 0.009 |
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