15.—(1) Where a person who has given notice under paragraph 1(1) of an election under regulation C24 to his employing authority—
(a)has ceased to be employed by that authority; or
(b)has ceased to be a member without ceasing to be so employed,
he may elect to have the accumulated value of the invested additional contributions mentioned in paragraph 7(2), used—
(i)in the case mentioned in paragraph (a), in one or more of the ways mentioned in sub-paragraph (2); and
(ii)in the case mentioned in paragraph (b) in one or both of the ways mentioned in paragraphs (b) and (e) of that sub-paragraph.
(2) The ways referred to in sub-paragraph (1) are—
(a)to subscribe to an occupational pension scheme;
(b)to subscribe to a personal pension scheme;
(c)to subscribe to a self-employed pension arrangement;
(d)to purchase an appropriate policy from one or more insurance companies; or
(e)to subscribe to an additional voluntary contributions scheme.