25(1)For the purposes of this Part a dependant’s alternatively secured pension fund in respect of an arrangement consists of such of the sums and assets held for the purposes of the arrangement as—
(a)meet condition A or B, and
(b)have not been subsequently applied for purchasing a dependants' scheme pension or a dependants' annuity or paid as dependants' income withdrawal.
(2)Condition A is that the sums and assets were part of the dependant’s unsecured pension fund in respect of the arrangement when the dependant reached the age of 75.
(3)Condition B is that the sums and assets have at any time since the dependant reached that age been designated as available for the payment of alternatively secured dependants' pension to the dependant.