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2. For Regulation 11(1) and (2) of the Teachers’ Superannuation (Additional Voluntary Contributions) Regulations 1996(1) substitute the following—
“(1) Except as provided in paragraph (2) the Department shall, on application by a person who has ceased to be a contributor by virtue of regulation 7(2)(b) or (c), pay a transfer value representing the value of investments made under regulation 9(1) or 10(2) to any other registered pension scheme in which the person may be participating (provided that the other pension scheme is willing and able to accept such a transfer).
(2) A transfer value shall not however be paid pursuant to paragraph (1)—
(a)in respect of a person who has ceased to be a contributor by virtue of regulation 7(2)(b), if the person ceased to be a contributor before 6th April 2006 and has not become a contributor again since that date; or
(b)in respect of a person who has ceased to be a contributor by virtue of regulation 7(2)(c) and who ceased to be in pensionable employment before 6th April 2006, unless a transfer value is payable in respect of that person under regulation F1 or F1A of the 1998 Regulations.”.
S.R. 1996 No. 260, as amended by S.R. 2001 No. 149, S.R. 2003 No. 86, S.R. 2005 No. 495 and S.R. No. 2006 No. 163
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