Repayment of investments in certain cases15

1

In the case of a person who—

a

ceases to be employed in reckonable service; and

b

is entitled to receive a return of contributions under regulation 42 of the Principal Regulations; and

c

has applied for and received such a return of contributions,

the Department shall make arrangements for that person to receive a lump sum representing the total realisable value of the investments made by the Department in respect of that person under regulation 9(1) or 10(2).

2

There shall be deducted from any lump sum payable under paragraph (1) the amount of tax chargeable under section 598 of the Taxes Act.