Regulation 12 Procedure for applying for acceptance of a transfer value payment from another scheme

In regulation P8^f1 of the Principal Regulations for paragraph (2) substitute—

“(2)

An applicant must not make an application relating to—

(a)

a transfer value payment from a personal pension scheme, or

(b)

unless paragraph (3) applies, a transfer value payment relating only to voluntary contribution rights,

if the applicant has paid contributions to the personal pension scheme or towards those voluntary contribution rights after the relevant date.”.