Where any officer or servant to whom these Regulations apply is entitled under any pension scheme to which these Regulations apply, on ceasing to be an officer or servant, to receive any payment by way of a return of contributions paid by or in respect of him, with or without interest thereon, he may, at any time within three months of the date of change, exercise his right to receive such a payment; and where such a right is exercised by any officer or servant the subsequent provisions of these Regulations shall not apply to him, and the persons managing any such scheme, the persons in whom any fund held for the purposes thereof is vested and the Commission shall be discharged from all other liability under the scheme to or in respect of that officer or servant or to any other person by reason of that right having been exercised.