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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 shall—

(a)

be made by giving written notice to the Department; and

(b)

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

(2)

An election under these Regulations shall not be accepted by the Department 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 that election would be likely to exceed the amount permitted 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 by the Department if any information required by that regulation is not given.