Article 19 Leaving the AVC scheme: refunds of contributions, transfers out etc.

for paragraphs (a) and (b) substitute—

“(a)

to apply an amount equal to the value of the contributor’s accrued benefits in such one or more of the ways permitted under section 95 of that Act as the contributor specifies;” and

in paragraph (c) after “less than two years” insert “and the payment to the contributor of an amount equal to the contributions paid by him would qualify as a short service refund lump sum for the purposes of section 166(1) of the Finance Act 2004 (lump sum rule) (see paragraph 5 of Schedule 29 to that Act)”.