1. These Regulations shall come into operation on 6th October 1966 and may be cited as the National Insurance (Modification of Transport Undertaking Superannuation Funds) (Amendment) Regulations 1966.

2. The Interpretation Act 1889 shall apply for the interpretation of these Regulations as it applies for the interpretation of an Act of Parliament.

3. The National Insurance (Modification of Transport Undertaking Superannuation Funds) Regulations 1961 shall be amended by inserting, at the end of Regulation 2(1) thereof, the following definition:-

"`"graduated contribution" means such part of the amount payable under sub-paragraph (i) of section 4(1)(c) of the National Insurance Act 1965 as substituted by section 1(2) of the National Insurance Act 1966 as is equivalent to 4¼ per cent of the amount, up to nine pounds, by which the member's remuneration in any week exceeds nine pounds (or the equivalent amount for remuneration not paid weekly).'" means such part of the amount payable under sub-paragraph (i) of section 4(1)(c) of the National Insurance Act 1965 as substituted by section 1(2) of the National Insurance Act 1966 as is equivalent to 4¼ per cent of the amount, up to nine pounds, by which the member's remuneration in any week exceeds nine pounds (or the equivalent amount for remuneration not paid weekly).'

EXPLANATORY NOTE

These Regulations amend the National Insurance (Modification of Transport Undertaking Superannuation Funds) Regulations 1961 under which the contributions and benefits of members of the superannuation funds specified in those Regulations who are not contracted out of the graduated National Insurance scheme are modified to take account of the contributions and benefits payable under the scheme. These Regulations exclude from such modification the additional contributions and benefits payable in consequence of the National Insurance Act 1966.