Transfers in respect of more than one member
12. For regulation N4 substitute–
“Special terms for transfers in (bulk transfers etc.)
N4.—(1) This regulation applies where one or more members of another occupational pension scheme (“the transferring members”)–
(a)cease to be in pensionable employment under that scheme,
(b)join this scheme, and
(c)consent in writing to a transfer payment being accepted in respect of them and pensionable service being credited to them as mentioned in paragraphs (2) and (3).
(2) The Scottish Ministers may, after taking advice from the Government Actuary, accept a single transfer payment in respect of the transferring members.
(3) Where such a transfer payment is accepted, each of the transferring members shall be credited with such additional period of pensionable service as the Scottish Ministers determine to be appropriate after taking advice from the Government Actuary.”.