The Insurance Companies (Pension Business) (Transitional Provisions) (Amendment) Regulations 1993

• Citation: S.I. 1993/3109
• Sections: 4

Section 1 Citation and Commencement

These Regulations may be cited as the Insurance Companies (Pension Business) (Transitional Provisions) (Amendment) Regulations 1993 and shall come into force on 31st December 1993.

Section 2 Interpretation

In these Regulations “the principal Regulations ” means the Insurance Companies (Pensions Business) (Transitional Provisions) Regulations 1992 and “regulation” means a regulation of those Regulations.

Section 3 Amendments to the principal Regulations

In regulation 4, the following paragraphs shall be substituted for paragraph (2)—

(2) The prescribed percentage is 7.5 per cent. for an accounting period ending after 2nd October 1992 and before 1st January 1994.

(3) Subject to paragraph (2) above, the prescribed percentage is 12.5 per cent.

Section 4 Amendments to the principal Regulations

In regulation 6, in paragraph (2), for the word “or” immediately precedingsub-paragraph (c) there shall be substituted the word “and”.