PART 2Modifications of Part 4 of the Finance Act 2004
CHAPTER 3Benefits
Trivial commutation lump sum: lump sum already paidI119
1
Paragraph (2) applies where—
a
an individual has been paid a lump sum which, disregarding the relevant rectification provisions, is a trivial commutation lump sum25, and
b
as a result of the operation of a relevant rectification provision—
i
the condition in paragraph 7(1)(b) of Schedule 29 to FA 2004 (commutation limit)26 has ceased to be met in relation to the lump sum, or
ii
the condition in paragraph 7(1)(d) of that Schedule (extinguishment of rights) has ceased to be met in relation to the lump sum.
2
The lump sum is, and is treated as always having been, a trivial commutation lump sum.