Regulation 15 Payments by the Secretary of StateI1

Where an authorised provider or a selected authorised provider fails to pay a benefit referred to in regulation 11(1) or a lump sum benefit referred to in regulation 12, the Secretary of State is liable to pay that amount.

Where, on or after the date on which these Regulations come into force, a participator F2or a person entitled to a pension credit elects for benefits to be provided by an authorised provider other than the provider selected by the Secretary of State, the Secretary of State shall not be liable under paragraph (1).

Lump sums payable as mentioned in F3regulations F411(8)(f) and (11) and regulation 12 F5or paragraph 3(2), 8 or 9 of Schedule 2 shall be paid—

The provisions referred to in paragraph (3)(b) are—

Where, prior to their death, the member has given notice to the Secretary of State in accordance with paragraph (3C) that the lump sum is to be paid to a person specified in the notice, and has not revoked that notice, the lump sum may be paid to that person unless—

Notice to the Secretary of State for the purpose of paragraph (3B)—

Lump sums payable under regulation 11(1)(b), (c) and (d) and regulation 14(1) must be paid to the participator.

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Subject to paragraph (11) below, in the case of a participator to whom any of F16F17the provisions referred to in paragraph (10A) applies, the Secretary of State may realise such part of the investments made under these Regulations as is derived from an contributions made by the participator’s employer without purchasing an annuity and, in that event, the amount shall be payable to the participator as a lump sum.

Those provisions are—

In the case of a participator to whom any of the following provisions apply—

the Secretary of State may realise the investments made under these Regulations without purchasing an annuity and, in that event, the proceeds shall be payable to the participator as a lump sum.