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Regulation 3 Making and acceptance of elections

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Any election under these Regulations—

(a)

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

(b)

shall, subject to paragraphs (2) and (3), be accepted by him.

(2)

No election under these Regulations shall be accepted if—

(a)

the amount paid in contributions in any tax year pursuant to that election would be such as to cause the total of contributions paid in that tax year pursuant to these Regulations to exceed the limit imposed by regulation 8(3); or

(b)

the benefits to be paid as a result of the contributions paid pursuant to the election would be likely to exceed the amount allowed by regulation 14 and the Schedule; or

(c)

in the case of an election under regulation 4(1)(c), the amount specified in the election as the amount to be secured is less than the amount specified in regulation 4(2)(d).

(3)

An election falling within regulation 17(2) shall not be accepted if any information required by that regulation is not given.