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13.—(1) If a contributor who is paying periodical contributions to provide a lump sum death benefit dies when no election under regulation 5(2) has effect, the lump sum secured by these contributions shall become payable.
(2) If on the death of a contributor an election under regulation 5(2) has effect—
(a)the Secretary of State shall apply the pension element in accordance with the election, and
(b)any balance of lump sum secured shall become payable.
(3) If at the time of the death of the contributor any person named in a notification given under regulation 5(3) had died or ceased to be a dependant, the proportion of the lump sum death benefit that was to have been applied to the purchase of a pension for that person shall not be used for that purpose, but shall be added to the balance becoming payable under paragraph (2)(b).
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