Option to be exercised in writingU.K.
This section has no associated Explanatory Memorandum
80.—(1) P may only exercise the option by making an application in writing to the administrators for submission to the Treasury.
(2) If the Treasury receive an application under this regulation, the Treasury must do what is needed to comply with the choice made by P in exercising the option—
(a)within 12 months of the date on which it receives P's application, or
(b)no later than the date on which P attains normal pension age,
whichever is earlier.