18.—(1) Where section 36E of the 1985 Act M1 applies, the value of a transferee’s rights under a pension arrangement derived directly or indirectly from a pension-sharing transaction, shall be—
(a)the cash equivalent of those rights at the date on which the permanent trustee’s request for that valuation is received by the responsible person; and
(b)calculated and verified in accordance with paragraph (2) below.
(2) In calculating and verifying the cash equivalent of the transferee’s rights referred to in paragraph (1) above, regulation 24 of the Pension Sharing (Pension Credit Benefit) Regulations 2000 shall have effect for the purposes of this regulation in like manner to that in which it has effect for the calculation and verification of pension credit for the purposes of those Regulations.
Marginal Citations
M1Section 36E was inserted by paragraph 69 of Schedule 12 to the 1999 Act.