Paragraph 12
If in conjunction with the first pension the person was entitled to a retirement grant—
in calculating the lump sum no account is to be taken of any additional period excluded in accordance with regulation D2(2)(ii) from the calculation of the retirement grant,
if he has not received the grant before becoming entitled as mentioned in paragraph 11(1)(b), he ceases to be entitled to it,
if he has received the retirement grant—
he is only entitled to payment of the excess, if any, of the lump sum over the retirement grant, and
if the retirement grant exceeds the lump sum, he is only entitled to the annual pension if, within three months after giving notice under paragraph 10, he pays an amount equal to the excess to the appropriate administering authority.