Surrender at the request of the Parliamentary corporation
12.—(1) The Parliamentary corporation may require an institution with which contributions have been invested under the AVC Scheme to surrender the whole or part of the value of such contributions.
(2) If, pursuant to sub-paragraph (1) above, the Parliamentary corporation requires a surrender of the whole or part of the value of contributions, it shall reinvest such contributions in accordance with paragraph 5.
(3) If, on or before the date when the Parliamentary corporation exercises its right under sub-paragraph (1) above, a request has been received from a contributor under paragraph 5(4), the Parliamentary corporation may give effect to such request.