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46.—(1) If a member with less than three months’ membership ceases to be employed by an employing authority or to be an active member without becoming entitled to a retirement pension he is entitled to be repaid his contributions from the appropriate fund.
(2) If repayment of the contributions has not been made before the expiry of the period of one year beginning with the date when active membership ceases, the person is entitled to interest on the repayment which should have been made, calculated as provided in regulation 44(4), the due date being the date when active membership ceased.
(3) A person who is entitled to a repayment of contributions under paragraph (1) may waive his entitlement for any period and, if he becomes an active member again before the expiry of that period, he shall cease to be so entitled (but without prejudice to any entitlement arising later under that paragraph in respect of those contributions).
(4) A person who continues as an active member in another employment he held concurrently with the employment in which he has ceased to be an active member may elect for an amount equal to the repayment to be treated as contributions to the Scheme as respects his membership in that concurrent employment, entitling him to a period of membership equal to the period of membership in the employment which has ceased, as reduced under regulation 7(3) of the Benefits Regulations if the employment which has ceased was part-time, multiplied by the fraction—
| whole-time rate of pay of the employment which has ceased |
| whole-time rate of pay of the employment which is continuing |
where the rate of pay in each case is the annual rate of pay on the last day of employment in the employment that has ceased.
(5) A person who elects under paragraph (4) ceases to be entitled to that repayment (but without prejudice to any entitlement arising later in respect of the concurrent employment).
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