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7.—(1) Subject to sub-paragraphs (2) to (6), a declaration takes effect on the day on which it is delivered to the Department.
(2) A declaration cannot take effect before the person’s relevant birthday.
(3) A declaration has no effect if either the person making it or the person for whose benefit the allocation was to be made dies before the material time.
(4) In the case of a declaration made by a retiring employee the material time is the later of—
(a)the day after that on which the declaration is delivered; and
(b)the day before that on which he becomes entitled to payment of retirement benefits.
(5) In any other case the material time is the day on which the declaration is delivered.
(6) A declaration may be revoked or varied by a further declaration delivered—
(a)in the case of a retiring employee, before the day on which he becomes entitled to payment of retirement benefits; and
(b)in any other case, before the day on which the original declaration is delivered.
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