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The Teachers’ Superannuation and Pension Scheme (Additional Voluntary Contributions) (Scotland) Regulations 2017

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10.—(1) Where a person in pensionable service (P) has been a member of a registered pension scheme or a qualifying recognised overseas pension scheme, P, whether or not P becomes a contributor (within the meaning of these Regulations), may give written notice to the Scottish Ministers that P wishes them to accept from the trustees or manager of that scheme a value of the transfer from that scheme.

(2) Where a transfer value is accepted by Scottish Ministers it shall be invested by them, in accordance with the election made under regulation 4(2)(c), in one or more of the funds authorised by the Scottish Ministers for the purposes of these Regulations managed by an insurance company selected by them.

(3) A person who has given written notice under paragraph (1) may at any time by giving written notice to the Scottish Ministers require them to realise any investment and to reinvest the proceeds under paragraph (2) in a different way.

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