100.—(1) A JAVC member may cease to be a member of the JAVC scheme in relation to all or part of the scheme assets at any time before those benefits are provided under regulation 98.
(2) Subject to Chapters 1 and 2 of Part 4ZA of the Pension Schemes Act 1993 F1, or Chapters 1 and 2 of Part 4ZA of the Pension Schemes (Northern Ireland) Act 1993 F2, the JAVC member must, on leaving the JAVC scheme, request the administrators (in such manner as may be specified by the administrators) to take one or more of the following actions—
(a)to transfer all or part of the JAVC member's scheme assets to any other registered pension scheme or a qualifying recognised overseas pension scheme in which the JAVC member may be participating (provided that the other pension scheme is willing and able to accept such a transfer value);
(b)to use all or part of the value of the JAVC member's scheme assets to purchase one or more insurance policies of the type described in section 95(2)(c) of the Pension Schemes Act 1993 F3 or section 91(2)(c) of the Pension Schemes (Northern Ireland) Act 1993;
(c)if the JAVC member's reckonable service, together with any service whilst a member of another registered pension scheme or a qualifying recognised overseas pension scheme from which a transfer value has been paid to the JAVC scheme is less than 2 years, to pay the JAVC member the value of the JAVC member's scheme assets;
(d)to use all or part of the JAVC member's scheme assets in any other way which is not an unauthorised payment within the meaning of section 160(5) of the 2004 Act F4.
Textual Amendments
F11993 c.48; Part 4, Chapters 4 and 5 were renumbered as Part 4ZA Chapters 1 and 2 by paragraph 50 of Schedule 4 to the Pension Schemes Act 2015 (c.8), and amended by S.I. 1996/1847, 2001/3649, 2015/182, the Pension Schemes Act 1993 (c.48), the Pensions Act 2004 (c.34), the Pensions Act 2014 (c.19).
F21993 c.49; Part 4 Chapters 4 and 5 were renumbered as Part 4ZA Chapters 1 and 2 by the Pension Schemes Act 2015 (c.8), and section 91(2)(c) was amended by article 133 of S.I. 2001/3649.
F3Part 4, Chapters 4 and 5 of the 1993 (c.48) were renumbered as Part 4ZA Chapters 1 and 2 by the Pension Schemes Act 2015 (c.8), and section 95(2)(c) was amended by article 121 of S.I. 2001/3649.
F4Sections 160(2) and (4) relevant to this definition were amended by the Finance Act 2006 (c.25) and the Finance Act 2007 (c.11)