Repayment of investments in certain cases
This section has no associated Policy Notes
15.—(1) The Scottish Ministers shall make arrangements for a person to receive a lump sum representing the total realisable value of the investments made by the Scottish Ministers in respect of that person under regulation 9(1) or 10(2) where the person—
(a)before 1st October 2015, ceases to be in pensionable service and has applied for and received a return of contributions under regulation C11 of the 2005 Regulations or regulation 183 of the 2014 Regulations;
(b)on and from 1st October 2015 onwards, ceases to be in pensionable service and has a period of qualifying service which is less than 30 days.
(2) There shall be deducted from any lump sum payable under paragraph (1) the amount of tax chargeable under section 205 of the 2004 Act.