Where—
the end of the section 10 election period in relation to M has passed,
no deferred choice decision has been made, and
it appears to the scheme manager, having consulted the scheme actuary, that the value of reformed scheme benefits payable if a section 10 election is made is greater than the value of legacy scheme benefits payable if a section 10 election is not made,
a section 10 election is treated as having been made immediately before the end of the section 10 election period.