Regulation 3 Making and acceptance of elections

(1)

Any election under these Regulations–

(a)

is to be made by giving written notice to the Secretary of State,

(b)

is, subject to paragraphs (2) to (4), to be accepted by him, and

(c)

except in the case of a benefits election under regulation 11(5), has effect from the first day of the month following that in which it was accepted.

(2)

No election under these Regulations is to be accepted if any limit imposed by regulation 8(4) or 13 (limits on contributions and benefits) would be exceeded.

(3)

An election falling within regulation 16(2) (death benefit cover, continued death benefit cover and increased death benefit cover) is not to be accepted if–

(a)

any information required under regulation 16(2) is not given, or

(b)

the information given is such that the cover could not be secured by investment under regulation 9(6).

(4)

A benefits election under regulation 11(5) made after retirement may be accepted only if the Secretary of State is satisfied as mentioned in regulation 11(5).