Regulation 10 Outward transfersF1

Subject to—

the Secretary of State shall, as soon as reasonably practicable after having received a notice in writing from an eligible person requesting a transfer of the value of that person’s investments made in relation to that person under regulation 7(1), 8(2) or, as the case may be 9(4), pay a transfer value representing the value of all such investments at that person’s option to any other registered pension scheme in which the person may be participating.

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If the Secretary of State is required under paragraph (1) to make a transfer payment in circumstances where such a payment in respect of an eligible person is also provided and used in accordance with regulation M1 of the 1995 Regulations (member’s right to transfer or buy-out), the Secretary of State must do so in accordance with the time limit specified in regulation M5 of those Regulations as if the reference in that regulation to an application were a reference to a notice referred to in paragraph (1).

If the Secretary of State is required under paragraph (1) to make a transfer payment in circumstances where such a payment in respect of an eligible person is also provided and used in accordance with regulation 2.F.1 or 3.F.1 of the 2008 Regulations (rights to transfer value payments), the Secretary of State must do so in accordance with the time limit specified in, as the case may be, regulation 2.F.4 or 3.F.4 of those Regulations as if the reference to an application in regulation 2.F.4 (or as the case may be) 3.F.4 were a reference to a notice referred to in paragraph (1).

If the Secretary of State is required under paragraph (1) to make a transfer payment in circumstances where such a payment in respect of an eligible person is also provided and used in accordance with regulation 134 of the 2015 Regulations (right to transfer value payment), the Secretary of State must do so in accordance with the time limit specified in regulation 137 of those Regulations as if the reference in that regulation to an application were a reference to a notice referred to in paragraph (1).

In any case where the Secretary of State has directed under regulation 20 (loss of rights to benefit) that all or part of any of an eligible person’s rights to benefit under these Regulations are to be forfeited the cash equivalent payable in respect of that person shall be reduced by the capitalised value of the rights which are to be forfeited.

If disciplinary or court proceedings are commenced against the eligible person within 12 months after he leaves pensionable service and it appears to the Secretary of State that the proceedings may lead to all or part of that F6person’s rights to benefits being forfeited in accordance with regulation 20, the Secretary of State may defer doing what is needed to carry out what that person requires until the date 3 months after the conclusion of those proceedings (including any proceedings on appeal) where that date is later than the date which would otherwise apply by virtue of paragraph (4) above.

Where the Secretary of State has done what is needed to carry out what the eligible person requires under this regulation, the Secretary of State shall be discharged from any obligation under regulation 15 (payments by the Secretary of State) to or in respect of that person.

In this regulation “eligible person” means a person—