SCHEDULE 1TRANSFER OF CERTAIN FUNCTIONS, ETC.

The Pensions Act

37

In section 432 of that Act (meaning of “contracted-out employment”, “guaranteed minimum pension” and “minimum payment”)—

a

in subsection (1)(b), for “Department” there is substituted “Inland Revenue”, and

b

in subsection (3)(f), for “Department” and “it is” there are substituted respectively “Inland Revenue” and “they are”.