Paragraph 7

In section 172A(5) (exceptions to provisions on surrender: entitlement to benefits)—

(a)

in paragraph (b) after “dependant” insert “ , or nominee, ”,

(b)

after paragraph (b) insert—

“(ba)
a surrender (or agreement to surrender) by a dependant, nominee or successor of the member (“the beneficiary”) in return for the conferring, on a successor of the member, of an entitlement to benefits after the beneficiary's death,”, and

(c)

in paragraph (c) for “or dependant” substitute “ , dependant, nominee or successor ”.