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24(1)Paragraph 29 of Schedule 36 (transitional provisions: applicable amount in cases of enhanced protection) is amended as follows.
(2)In sub-paragraph (3), for “(7)” substitute “(7A)”.
(3)In the sub-paragraph (6) of paragraph 3 of Schedule 29 substituted by sub-paragraph (3), after “pension” insert “under a defined benefits arrangement”.
(4)After the sub-paragraph (7) of that paragraph so substituted insert—
“(7A)Where the member becomes entitled to a scheme pension under a money purchase arrangement, the applicable amount is (subject to sub-paragraph (8))—
where—
VULSR, VUR and LS have the same meaning as in sub-paragraph (1), and
SPPP is the scheme pension purchase price.”
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