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27.—(1) This regulation applies to a person—
(a)to whom a protected benefit is being paid or may become payable, and
(b)who is placed in a worse position than he would have been in if a provision made by these Regulations (“the relevant provision”) had not applied in relation to the protected benefit.
(2) A protected benefit is one which is being paid or may become payable, under the principal Regulations, to or in respect of a person who was employed in pensionable employment but ceased to be so employed, or died, before 1st March 1993.
(3) A person to whom this regulation applies may, by giving written notice to the Secretary of State within 3 months after [date in force], elect that the relevant provision shall not apply in relation to the protected benefit.
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