129.—(1) Section 15 of the Pension Schemes (Northern Ireland) Act 1993 (discharge of guaranteed minimum pension secured by insurance policies or annuity contracts) is amended as follows.
(2) In subsection (4)(a)—
(a)for “insurance company” substitute “insurer”; and
(b)in sub-paragraph (i), the word “ordinary” is repealed.
(3) Subsection (7) is repealed.