Paragraph 25 Application of Part

(1)

This Part applies to a member who applies under these Regulations for a club transfer value to be accepted from an existing club scheme (“the sending scheme”).

(2)

This Part does not apply if—

(a)

the person (P) has reached 75;

(b)

retirement benefits have become payable to P under this scheme or under the sending scheme; or

(c)

the sending scheme was a money purchase arrangement to which P's previous employer made no contribution.