Commentary on provisions of Act Section 3: Equivalent provisions for Class 2 contributions
Section 3(1) requires the Treasury to make regulations to ensure that the threshold for paying Class 2 NICs is equivalent to the LPL threshold.
	Section 3(2) specifies that those regulations may treat individuals whose profit is below the LPL as having made Class 2 contributions, that the regulations may have effect from 6 April 2022 and may amend an Act of Parliament.