126.—(1) This regulation applies where–
(a)a pension fund becomes an active member’s appropriate fund;
(b)immediately before it does so, another fund was his appropriate fund;
(c)in a case where regulation 31(1) applies to him, he has made an election under that regulation.
(2) Where the member’s appropriate administering authority has also changed, the authority which has ceased to be the member’s appropriate administering authority must make such payment to his later appropriate administering authority as is indicated in guidance issued by the Government Actuary for this regulation (but see paragraph (3)).
(3) Where–
(a)paragraph (2) applies as respects two or more members by virtue of a single event; and
(b)the authority by which the payment under that paragraph must be made agree with the authority to which it must be made that it is appropriate for the amount of the payment to be determined by actuaries appointed by those authorities for the purpose,
that amount must be so determined.
(4) Any payment under paragraph (2) must be credited to the new appropriate administering authority’s fund.
(5) Where the member’s appropriate administering authority has not changed, they must arrange for a payment such as is indicated in guidance issued by the Government Actuary for this regulation to be made from the member’s former appropriate fund to his new appropriate fund.
(6) Paragraph (1) does not apply where a member enters an employment which is concurrent with another in which he is also an active member.