Amendments made: No. 34, in page 32, line 28, leave out from 'shall' to 'shall' in line 31 and insert:
'in respect of the earner pay a state scheme premium (which may be referred to as a "limited revaluation premium").
§ (2) Such a premium shall be paid to the Secretary of State within the prescribed period; and its amount'.
No. 36, in page 32, line 39, leave out from 'tables' to end of line and insert:
'as in force at the time when the earner's service in contracted-out employment is terminated; and
§ (3A) Regulations for the purposes of subsection (3) above—
- (a) shall be made only after consultation with the Government Actuary; and
- (b) shall be so framed that the tables applicable from time to time vary with the yield on such investments or classes of investments as the Secretary of State thinks fit.
§ (3B) In certifying any amount under subsection (2) above the Secretary of State'.— [Mr. O'Malley.]