The Fire Services (Pensionable Employment) (No. 2) Regulations 1949

3.—(1) Where a person is entitled to reckon service under the provisions of Regulation 2 of these Regulations, the fire authority shall pay to the Treasury a transfer value calculated in accordance with paragraph (2) of this Regulation.

(2) The transfer value shall be of a like amount to the transfer value which would have been payable under section twenty-nine of the Local Government Superannuation Act, 1937, had the person's service as a pensionable member of a fire brigade been service as a contributory employee of a local authority within the meaning of the said Act and had he within twelve months of ceasing to be so employed become such a contributory employee under another local authority, and for the purposes of calculating the said transfer value—

(a) the person shall be treated as though he had been employed as an officer;

(b) a reference to a period of contributing service shall be construed as a reference to a period equal to the period of pensionable service which the person was entitled to count immediately before he ceased to be a pensionable member of a fire brigade, increased by one-third;

(c) a reference to remuneration shall be construed as a reference to annual pensionable pay within the meaning of the Firemen's Pension Scheme, 1948:

Provided that, where he has given an undertaking to make payments in accordance with the Eleventh Schedule to the Firemen's Pension Scheme, 1948, the transfer value first mentioned in this paragraph shall be reduced by an amount equal to the balance outstanding under the said undertaking immediately before he ceased to be a pensionable member of a fire brigade.