# Finance Act 1993, Paragraph 7

Extent: E+W+S+N.I.

(1) The arrangements must provide that, on the member ceasing to carry on his underwriting business, whether by reason of death or otherwise, the amount of his special reserve fund, so far as not required for giving effect to the requirements of paragraph 4 or 5 above, shall be paid over to the member or his personal representatives or assigns.
(2) For the purposes of sub-paragraph (1) above, a payment of an amount shall be in money or in assets forming part of the fund or both, as the member or his personal representatives or assigns may direct.

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Source: https://www.legislation.gov.uk/ukpga/1993/34/schedule/20/paragraph/7 (the official version)
Page: https://openlegislation.uk/finance-act-1993/schedule-20/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.