200.—(1) This Section applies to a person (P) who—
(a)has left all pensionable service under this scheme;
(b)has become subject to—
(i)another registered pension scheme which is not a connected scheme; or
(ii)a qualifying recognised overseas pension scheme for the purposes of Part 4 of the Finance Act 2004 (see section 169(2) of that Act); (in either case, referred to in this Section as “the receiving scheme”); and
(c)has not reached normal pension age.
(2) This Section does not apply if—
(a)P is not qualified for retirement benefits under this scheme and a repayment of the balance of contributions has been made to P; or
(b)P is qualified for retirement benefits under this scheme and a retirement pension (other than a phased retirement pension) or a short-service serious ill-health grant has become payable to P in respect of that pensionable service.
201.—(1) A person (P) may apply for a statement of entitlement by written notice to the Department.
(2) The application must be made within 12 months after the day on which P becomes subject to the receiving scheme.
202.—(1) A person who is provided with a statement of entitlement may apply for a transfer value to be paid to the receiving scheme.
(2) The application must—
(a)be made within 12 months after the day on which P becomes subject to the receiving scheme
(b)be by notice to the Department;
(c)specify the pension scheme or other pension arrangement to which the transfer value is to be paid; and;
(d)meet any other conditions the Department requires.
203.—(1) On receipt of the application under regulation 202, the Department may make a transfer value payment in respect of P.
(2) A member of this scheme may only require the Department to use a transfer value in a way specified in section 91(2) of the Pension Schemes Act.
(3) The whole of the transfer value must be applied.
(4) A transfer value payment in respect of a member’s accrued rights under this scheme may only be made to the receiving scheme.
(5) A transfer value payment in respect of any pension credit rights or pension credit benefits must not be made under this regulation.
(6) If a transfer value payment is made in respect of a person’s rights under this scheme, those rights are extinguished.