Regulation 4 Protected beneficiaryI1

who immediately before the transfer date is entitled to accrued pension rights under the Pension Scheme but does not otherwise participate in that Scheme;

to whom regulation 3 has ceased to apply pursuant to paragraph (2) of that regulation but who is entitled to accrued pension rights under a relevant scheme; or

who, on or after the transfer date, acquires pension rights under a relevant scheme by reason of the death of a person who was at the date of his death–

elects under regulation 17 to cease to be a protected beneficiary; or

withdraws or requires a transfer payment to be made in respect of all or any part of his accrued pension rights from a relevant scheme otherwise than by way of a transfer to another relevant scheme provided by his employer, except in respect of the accrued pension rights not so withdrawn or transferred.