31.—(1) This regulation applies to a police officer who retires, ceases to serve as such or who makes an election under regulation 7 (other than as set out in regulation 7(3)), in circumstances—
(i)in which no transfer value under regulation 74 has been, or is required to be, paid in respect of him; and
(ii)which do not entitle him to a pension award under any of the preceding provisions of this Part.
(2) A police officer to whom this regulation applies shall be entitled to an award by way of a lump-sum payment of an amount equal to his aggregate pension contributions in respect of his relevant period of service, calculated in accordance with regulation 23.