Application of the conditions to all uses of the cash equivalent2.

(1)

The conditions set out in these Regulations apply to all of the specified ways in which the cash equivalent may be used in accordance with the provisions of section 95 of the 1993 Act (ways of taking right to cash equivalent)8 set out in subsection (6ZA) of that section, and the authorised purposes for which the cash equivalent may be used in accordance with the provisions of section 101F (power to give transfer notice)9 set out in subsection (5A) of that section.

(2)

In these Regulations—

(a)

“cash equivalent”, in relation to a member’s transferrable rights10, means the cash equivalent referred to in section 94(1) or (2) of the 1993 Act (right to cash equivalent)11, and, in relation to a member’s pension credit rights12, means an amount equal to the cash equivalent referred to in section 101F(1)13; and

(b)

“member” means either a member14 of a pension scheme who has transferrable rights, or an eligible member15 of a pension scheme who has pension credit rights.

(3)

In these Regulations, “transfer” means using the cash equivalent in one of the specified ways, or for one of the authorised purposes, in accordance with the provisions referred to in paragraph (1), and “request to make a transfer” means, respectively, an application, or giving notice, to use the cash equivalent in one of those ways or for one of those purposes.