Regulation T3 Benefits not assignable

Any assignment of, or charge on, or any agreement to assign or charge, any right to a benefit under F1this Section of the scheme is void.

On the bankruptcy of any person entitled to a benefit under this Section of the scheme, no part of the benefit shall be paid to any trustee or other person acting on behalf of the creditors, except as provided for in paragraph (3).

Where, following the bankruptcy of any person entitled to a benefit under this Section of the scheme, the court makes an income payments order under section 310 of the Insolvency Act 1986 M1 that requires the Secretary of State to pay all or part of the benefit to the person’s trustee in bankruptcy the Secretary of State shall comply with that order.