Regulation C5 Right to opt out for office holders.

An office holder who is a participating Member or who is not a Member of the House of Commons may exercise an option in writing under this regulation not to be a participating office holder in the principal scheme.

Subject to paragraph (3) below, the effective opt-out date in respect of an office holder is whatever date the Trustees shall determine to be the earliest practicable date after that on which they receive from him written notice of the exercise of the option.

If the Trustees receive the written notice not more than twelve months after the date of commencement of a period of tenure of a qualifying office, the effective opt-out date is the date on which that period of tenure commenced and any contributions deducted from an office holder under regulation D2 in respect of that period of tenure shall be repaid to him.

An office holder who has exercised an option under paragraph (1) above not to be a participating office holder or who has exercised the option under regulation C4(1) is referred to in these Regulations as an opted-out office holder.