PART 9Commutation of periodic compensation
Manner in which an option to commute may be exercised30
1
The manner in which an option to commute periodic compensation under paragraph 9 of Schedule 5 to the Act may be exercised is specified in paragraphs (2) to (4).
2
A transferee may only exercise an option to commute a portion of the periodic compensation to which they are entitled by giving notice to the Board in writing.
3
A notice given under paragraph (2) must include—
a
the name, address, date of birth and national insurance number of the transferee; and
b
the percentage of the periodic compensation which the transferee opts to commute.
4
The Board may require a transferee exercising an option to commute to produce any document or provide any other information relevant to the Board's functions in relation to the transferee's request for commutation.