2.—(1) The following expressions have the meanings hereby assigned to them—
“the Act” means the Financial Services Act 1986(1);
“member” means a member of the Royal Ulster Constabulary and includes a member who is suspended under the discipline regulations;
“personal pension scheme” has the meaning given by section 1 of the Pension Schemes (Northern Ireland) Act 1993(2);
“police pension rights” means pension rights under the regulations relating to Royal Ulster Constabulary pensions for the time being in force.
(2) For the purposes of these regulations, an individual shall be taken to have opted or transferred out if—
(a)for any period during which he is a member, he does not make contributions in respect of police pension rights but instead makes contributions to a personal pension scheme; or
(b)a transfer value is paid in respect of the individual by the Police Authority to a personal pension scheme.