PART 6ADMINISTRATION OF PAYMENTS
Time and manner of payment: general provisions19
1
The scheme manager shall pay the annual paymentF2, the ill health payment, an interim ill health paymentF8, a payment under regulation 17G or 17H or an initial payment to the beneficiary or to his appointed representative, F5in instalments of no more than 52 in a year on a day specified by the scheme manager for the making of such payments to that beneficiary.
2
For the purposes of paragraph (1), where the amount of F7an instalment would, but for this paragraph, include a fraction of a penny, that fraction shall be disregarded if it is less than half a penny and shall otherwise be treated as a penny.
3
The scheme manager shall start to pay the F6... instalments payable to a beneficiary on the first day specified in paragraph (1) which is as soon as reasonably practicable after the day on which—
a
the beneficiary becomes entitled to an annual payment under regulation 17(2) to (4); F3...
b
the scheme manager determines that an initial payment may be made under regulation F118(4).
F4c
the beneficiary becomes entitled to an ill health payment under regulation 17A(1) or (3); or
d
the scheme manager determines that an interim ill health payment may be made under regulation 17B(2).
F9e
the beneficiary becomes entitled to a payment under regulation 17G or 17H;
4
F6... instalments shall be paid by means of direct credit transfer or by such other means as appear to the scheme manager to be appropriate in the circumstances of any particular case.