Regulation 18 Initial paymentsF1

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F4F5Except where F6paragraph (4B) or regulation 17C(8)(b)(i) or (iii) applies, the scheme manager may, in F7its discretion, make a payment (“an initial payment”) to, or in respect of, a qualifying memberF8, the qualifying member’s surviving dependants or his survivor—

An initial payment under paragraph (4) may be made—

Where a qualifying member who has died was a party to a polygamous marriage the scheme manager may, in its discretion, make a payment (“a shared initial payment”) to each survivor—

In exercising its discretion under paragraph (4B), the scheme manager may only have regard to—

Paragraphs (5A) and (7) to (9A) shall apply to a shared initial payment under paragraph (4B) with the following modifications—

In exercising its discretion under paragraph (4), the scheme manager may only have regard to—

Where the trustees or managers have determined the amount of interim pension that would be paid to the qualifying memberF16, any surviving dependants or the survivor of that qualifying member, but do not propose to pay that interim pension for administrative reasons, the scheme manager may, in exercising F17its discretion under paragraph (4) and in determining the amount of initial payment under Schedule 2, deem that memberF18, that surviving dependant or that survivor to be receiving that interim pension, if in the scheme manager’s opinion it is reasonable to do so.

Schedule 2 makes provision for the determination of the amount of initial payments F19and shared initial payments.

If the scheme manager determines that an initial payment may be made under paragraph (4), the initial payment is payable—

F24Where a beneficiary dies or otherwise ceases to be entitled to an annual payment—

The scheme manager may, at any time before the amount of the annual payment is determined, redetermine the amount of any initial payment paid under paragraph (4) if F25it is satisfied that the amount being paid by way of initial payment, as determined in accordance with Schedule 2, may be incorrect.

The power to redetermine the amount of an initial payment under paragraph (9) includes the power to redetermine that amount as a result of a change in the amount of interim pension being paid to the beneficiary.

If, having determined that an initial payment may be made under paragraph (4), the scheme manager subsequently determines, in accordance with Schedule 2, that no annual payment is payable to or in respect of that qualifying member F28or that qualifying member’s survivor or surviving dependant, then the total of all F29... instalments of an initial payment made to or in respect of that qualifying member or that qualifying member’s survivor or surviving dependant is recoverable in accordance with regulation 7 of the FAS Information and Payments Regulations.

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