Regulation 11 Outward transfersI1

Except as provided in paragraph (2) the Scottish Ministers shall, on application by a person, pay a transfer value representing some or all of the value of investments made under regulation 9(1) or 10(2) to any other registered pension scheme or a qualifying recognised overseas pension scheme in which the person may be participating (provided that the other pension scheme is willing and able to accept such a transfer value).

A transfer value shall not be paid pursuant to paragraph (1) in respect of investments which are subject to written notice under regulation 12(6).

The Scottish Ministers may pay a transfer value representing the value of a person’s pension credit or of investments made under regulation 14(2) in the circumstances of Chapter II of Part IVA of the Pension Schemes Act 1993 and regulations made under that Chapter.