The National Health Service Superannuation Scheme (Scotland) Amendment Regulations 2003 No. 55

Transfers in respect of more than one member

10.  For regulation M6 substitute–

“Special terms for transfers out (bulk transfers etc.)

M6.— (1) If one or more members (“the transferring members”)–

(a) leave pensionable employment,

(b) join another occupational pension scheme, and

(c) exercise a right to transfer to that scheme under regulation M1 (member’s right to transfer or buy-out),

the Scottish Ministers may, after taking advice from the Government Actuary, make a single transfer payment to that scheme in respect of the transferring members.

(2) The Scottish Ministers shall calculate the amount of any transfer payment paid under this regulation after taking advice from the Government Actuary.”.