Amendment of regulation 23
This section has no associated Explanatory Memorandum
13.—(1) Regulation 23 (provisions applying if amounts available for distribution are de minimis) is amended as follows.
(2) For sub-paragraphs (a) and (b) of paragraph (3) substitute—
“(a)has calculated that the total income available for income allocations is a de minimis amount, and
(b)chooses to waive the allocation of that de minimis amount.”.
(3) In paragraph (7) for “shown in the fund’s distribution accounts as available for distribution” substitute “available for income allocation”.