# The Occupational Pension Schemes (Transfer Values) Regulations 1996, Paragraph 12

Extent: E+W+S

Where a scheme has (in the case of a cash equivalent mentioned in section 93A of the 1993 Act, before the guarantee date) begun to be wound up, an initial cash equivalent may be reduced to the extent necessary for the scheme to comply with the winding up provisions (as defined in section 73B(10)(a) of the 1995 Act) and regulations made under those provisions.

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Source: https://www.legislation.gov.uk/uksi/1996/1847/schedule/1A/paragraph/12 (the official version)
Page: https://openlegislation.uk/occupational-pension-schemes-transfer-values-regulations-1996/schedule-1A/paragraph-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.