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31.—(1) This regulation applies to a police officer who retires, ceases to serve as such or who makes an election under regulation 7 (other than as set out in regulation 7(3)), in circumstances—
(a)in which no transfer value under regulation 74 has been, or is required to be, paid in respect of him, and
(b)which do not entitle him to a pension award under any of the preceding provisions of this Part.
(2) A police officer to whom this regulation applies shall be entitled to an award by way of a lump-sum payment of an amount equal to his aggregate pension contributions in respect of his relevant period of service, calculated in accordance with regulation 23.
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