678. Recovery of excessive pension contributions in pension sharing cases.

A pension sharing transaction1 is to be taken2:

  1.  

    (1)     to be a transaction, entered into by the transferor3 with the transferee4, by which the appropriate amount5 is transferred by the transferor to the transferee; and

  2.  

    (2)     to be capable of being a transaction entered into at an undervalue only so far as it is a transfer of so much of the appropriate amount as is recoverable6.

A pension sharing transaction is to be taken7:

  1.  

    (a)     to be something, namely a transfer of the appropriate amount to the transferee, done by the transferor; and

  2.  

    (b)     to be capable of being a

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