8.—(1) For the purposes of section 24(4)(b) (effect may be given to protected rights by the provision of a lump sum where the annual rate of the pension or annuity would not exceed the prescribed amount) the prescribed amount is £260.
(2) For the purposes of section 24(4)(c) (effect may be given to protected rights by the provision of a lump sum in prescribed circumstances) the prescribed circumstances are that—
(a)effect is given to all the member’s protected rights by the provision of a lump sum; and
(b)either—
(i)the member has no rights under the scheme other than his protected rights; or
(ii)effect is given to all those of his rights under the scheme which are not protected rights by the provision of a lump sum.