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Pensions Bill [HL]

49: Schedule 4, page 34, line 22, at end insert— ““In paragraph 24(1) (commutation of periodic compensation) for ““becomes payable”” substitute ““commences””.”” 50: Schedule 4, page 35, line 28, leave out sub-paragraph (3) and insert— ““( ) In sub-paragraph (5)— (a) in paragraph (a) for the second ““the”” substitute ““each””, (b) omit the ““and”” at the end of that paragraph, and (c) after paragraph (b) insert— ““(c) for the purposes of sub-paragraph (2), the definition of ““underlying rate”” in the case of periodic compensation under paragraph 5, 8, 11 or 15 applies as if the reference in paragraph (b) of the definition to the amount mentioned in sub-paragraph (3)(aa) of the paragraph in question was a reference to that amount reduced by the commutation percentage, and (d) that amount (as so reduced) is attributable to post-1997 service and pre-1997 service in the same proportions as that amount would have been so attributable had no part of the periodic compensation been commuted.”””” 51: Schedule 4, page 37, line 41, at end insert— ““In paragraph 9(1) (commutation of periodic compensation) for ““becomes payable”” substitute ““commences””.”” 52: Schedule 4, page 38, line 27, at end insert— ““( ) In sub-paragraph (7)— (a) after ““references in”” insert ““paragraph (a) of””, and (b) at the end insert ““(and paragraph (aa) of the definition applies accordingly).”””” Amendments 49 to 52 agreed. Schedule 4, as amended, agreed. Clauses 18 to 23 agreed. Amendment 53 Moved by