40.—(1) If an active member dies before attaining the age of 75 the Committee shall pay a death grant.
(2) The Committee may, at its absolute discretion, pay the death grant to or for the benefit of the member’s nominee, personal representatives or any person appearing to the Committee to have been a relative or dependent of the member at any time.
(3) The death grant is three times the member’s annual assumed pensionable pay calculated in accordance with regulation 23(4) (assumed pensionable pay) as at the date of the member’s death.
(4) If the Committee has not made payments under paragraph (1) equalling in aggregate the member’s death grant before the expiry of two years—
(a)beginning with date of the member’s death; or
(b)where the Committee did not know about the member’s death within that period, beginning with the date on which the Committee could reasonably be expected to have become aware of the member’s death,
it shall pay an amount equal to the shortfall to the member’s personal representatives.