PART 6Transfers
CHAPTER 4Treatment of rights secured by virtue of a remediable value
Benefits already paid in relation to transferred in remediable rightsI147
1
Paragraph (2) applies in relation to any benefits (“the paid benefits”) that the reformed scheme has at any time paid to a person (“P”) so far as—
a
they are calculated by reference to a remediable value, and
b
they are benefits that, as a result of regulation 45(2)(a), P was not entitled to receive from the scheme.
2
The paid benefits are to be treated for all purposes—
a
as not having been paid to P by the reformed scheme, but
b
as having been paid to P instead by the legacy scheme.