The Overseas Service (Pensions Supplement) (Amendment) Regulations 1999

• Citation: S.I. 1999/735
• Sections: 4

Section 1 Citation, commencement and interpretation

(1) These Regulations may be cited as the Overseas Service (Pensions Supplement) (Amendment) Regulations 1999 and shall come into force on 1st May 1999.

(2) In these Regulations, “the principal Regulations ” means the Overseas Service (Pensions Supplement) Regulations 1995 .

Section 2 Amendment of the principal Regulations

In regulation 19 of the principal Regulations (overseas increases), at the end there shall be added the following paragraphs:–

(4) Where a pension consists of periodical payments, and an authority of an overseas territory makes to the person in receipt of the pension a lump sum payment, the amount of the lump sum shall be treated as an overseas increase of the periodical payments of pension payable during the year beginning at the date when the lump sum falls due to be paid, in accordance with the following paragraphs.

(5) Subject to paragraph (6), the amount of the lump sum shall be allocated equally among the periodical payments during that year, and the portion allocated to each payment shall be treated as an overseas increase of that payment.

(6) Where the person entitled to the pension so requests, the Secretary of State may, instead of allocating the amount of the lump sum in accordance with paragraph (5), allocate it to or among one or more of the periodical payments during that year in such portions as he thinks fit, and the portion allocated to each payment shall be treated as an overseas increase of that payment.

Section 3 Amendment of the principal Regulations

In regulation 22 of the principal Regulations (conversion to sterling), at the end there shall be added the following paragraph:–

(7) The sterling value of the amount of any lump sum payment referred to in regulation 19(4) which is payable in a currency other than sterling shall be the middle rate on the day when the lump sum is paid in the official exchange market between the other currency and sterling or, if there is no official exchange market, the prevailing exchange rate for current payments on that day.

Section 4 Amendment of the principal Regulations

In Schedule 3 to the principal Regulations, for the entry “1.6.61” in column 6 in relation to Bermuda there shall be substituted “1.4.61”.