Paragraph 5

For regulation 10A (Outward transfers) substitute–

“Outward transfers

10A.

(1)

A police authority may pay a transfer value representing the value of a person’s pension credit or of investments made under regulation 12A(2) in the circumstances of Chapter II of Part IVA of the Pension Schemes Act 1993^f1 and regulations made under that Chapter.

(2)

This paragraph and paragraphs (3) to (5) of this regulation apply where a police authority receives a request in writing from a participator that they are to apply to the approved additional voluntary contributions provider to realise the pension investments held by the provider in respect of the participator and pay an amount representing the value of the investments made in relation to the participator under these Regulations to the police authority for transmission to the administrator of a scheme or arrangement within paragraph (5) who is willing to receive such a payment in respect of the participator.

(3)

On receiving a request under paragraph (2) the police authority shall transmit it to the approved additional voluntary contributions provider in question and on receiving that amount they shall pay it to the administrator of a scheme or arrangement within paragraph (5).

(4)

The payment under paragraph (3) of an amount representing all pension investments in respect of the participator discharges the police authority from all liability in respect of the participator under these Regulations.

(5)

A scheme or arrangement is within this paragraph if–

(a)

the participator is a participator in the scheme or arrangement, and

(b)

it is a scheme or arrangement for the time being approved by the Board of Inland Revenue as a scheme or arrangement to which transfers of rights in respect of additional voluntary contributions may be made in the circumstances which apply in the case of the request by the participator in question.”.