Regulation 11 Amendment to regulation 11 (Outward transfers)

In regulation 11—

(a)

in paragraph (1)—

(i)

omit “who has ceased to be a contributor by virtue of regulation 7(2)(b) or (c)”;

(ii)

before “the value of investments” insert “some or all of”;

(iii)

after “registered pension scheme” insert “or a qualifying recognised overseas pension scheme”;

(b)

for paragraph (2), substitute —

“(2)
A transfer value shall not be paid pursuant to paragraph (1) in respect of investments which are subject to written notice under regulation 12(5).”.