Regulation 6 Amendment of the Assignment Regulations

for paragraph (1A), substitute—

“(1A)

There are also prescribed for the purposes of section 91(5)(c)(iii) of the 1995 Act the circumstances where—

(a)

the rights of the member consist only of rights derived from equivalent pension benefits under Part III of the National Insurance Act 1965^f1; and

(b)

either—

(i)

the member has consented to the commutation; or

(ii)

he has not consented but the conditions in paragraph (4) are satisfied.”; and

after paragraph (3), add—

“(4)

For the purposes of paragraph (1A)(b)(ii), the conditions are that—

(a)

the trustees or managers of the scheme have sent to the member’s last known address written notice of their intention to commute his rights derived from equivalent pension benefits under Part III of the National Insurance Act 1965; and

(b)

no response has been received from the member before the end of the period of two months beginning with the date on which the notice was sent.”.