Regulation Q3 Partial forfeituresI1
England, Wales and Scotland
(1)
Where—
(a)
a direction has been made in relation to any person under regulation M1 (forfeiture of rights) or any corresponding provision of any earlier enactment, and
(b)
any right to benefit under these regulations is retained, and
(c)
the conditions of regulation Q2(1) are satisfied with the exception of the conditions in sub-paragraph (d),
the previous fund authority shall pay out of their superannuation fund a transfer value to the new fund authority for the credit of their superannuation fund.
(2)
The transfer value is to be an amount equal to the actuarial value of the remaining benefits.