Article 15 Calculation of transfer value following extension of time

“Where an extension of time is granted pursuant to rule 12(1)(a) of these rules in respect of a person who enters local government employment, any provision of these rules requiring payment of a transfer value calculated in accordance with the transfer value regulations shall be read as requiring payment of a transfer value calculated as if the person were ceasing to be in local government employment and entering the employment of the other authority under these rules.”.