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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 2 July 1996 - onwards

41. Amendment of Part B of Second Schedule to Principal Act.

Part B of the Second Schedule to the Principal Act is hereby amended by -

(a) in subparagraph (1) of paragraph 4, the substitution for "the previous revaluation year" of "the previous calendar year (or as at the date of termination of relevant employment in any case where a member's relevant employment has terminated since the last day of the previous calendar year)",

(b) in subparagraph (2) of paragraph 4, the substitution for "the previous revaluation year" of "the previous calendar year (or as at the date of termination of relevant employment in any case where a member's relevant employment has terminated since the last day of the previous calendar year)",

(c) the insertion after subparagraph (2) of paragraph 4 of the following proviso:

"provided that in any case where a member's relevant employment has terminated since the last day of the previous calendar year R is X/twelfths of the revaluation percentage where X is the number of complete months from the date on which the member's relevant employment terminated to the end of the revaluation year.",

(d) the substitution for subparagraph (2) of paragraph 6 of the following subparagraph: