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37. In regulation 86–
(a)in paragraph (1) for “he is entitled to be repaid his contributions from the appropriate fund with interest” substitute “he is entitled to be repaid his contributions from the appropriate fund and, if repayment has not been made before the expiry of the period of one year beginning with the date when active membership ceases, is entitled to interest from that expiry.”;
(b)in paragraph (2) after “ceased to be a member” insert “by reason of a notification under regulation 7(2) or”;
(c)for paragraph (3) substitute–
“(3) A person who is entitled to a repayment of contributions under paragraph (1) may waive his entitlement for any period and, if he becomes an active member again before the expiry of that period, he shall cease to be so entitled (but without prejudice to any entitlement arising later under that paragraph in respect of those contributions.)”; and
(d)in paragraph (4) for “an amount equal to the repayment to be treated as contributions to the scheme” substitute “a transfer”.
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