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(3)Subsection (1) shall not apply to an amount made available, at the time the participant makes an application to withdraw the balance referred to in a notification under section 82(1)(d) of the Act of 2024, by way of a lump sum (in accordance with section 83(1)(a) of the Act of 2024) of an amount not exceeding 25 per cent of the value of the balance paid at that time.

(3)Subsection (1) shall not apply to an amount made available, at the time the participant makes an application to withdraw the balance referred to in a notification under section 82(1)(d) of the Act of 2024, by way of a lump sum (in accordance with section 83(1)(a) of the Act of 2024) of an amount not exceeding 25 per cent of the value of the balance paid at that time.

(3)Subsection (1) shall not apply to an amount made available, at the time the participant makes an application to withdraw the balance referred to in a notification under section 82(1)(d) of the Act of 2024, by way of a lump sum (in accordance with section 83(1)(a) of the Act of 2024) of an amount not exceeding 25 per cent of the value of the balance paid at that time.

(3)Subsection (1) shall not apply to an amount made available, at the time the participant makes an application to withdraw the balance referred to in a notification under section 82(1)(d) of the Act of 2024, by way of a lump sum (in accordance with section 83(1)(a) of the Act of 2024) of an amount not exceeding 25 per cent of the value of the balance paid at that time.

(a) the balance of any funds, after any lump sum withdrawn in accordance with subsection (3), that a participant withdraws from his or her participant account, or that the Authority credits to the participant’s personal representative, shall, notwithstanding anything in section 18 or 19, be treated as a payment to the participant of emoluments to which Schedule E applies and, accordingly, the provisions of Chapter 4 of Part 42 shall apply to any such payment or amount treated as a payment, and

(a) the balance of any funds, after any lump sum withdrawn in accordance with subsection (3), that a participant withdraws from his or her participant account, or that the Authority credits to the participant’s personal representative, shall, notwithstanding anything in section 18 or 19, be treated as a payment to the participant of emoluments to which Schedule E applies and, accordingly, the provisions of Chapter 4 of Part 42 shall apply to any such payment or amount treated as a payment, and

(b) the Authority shall deduct tax from the balance held in that participant’s account at the higher rate for the year of assessment in which the balance is made available unless the Authority has received from the Revenue Commissioners a revenue payroll notification (within the meaning of section 983) for that year in respect of the participant.