401. Circumstances in which the right to a cash equivalent applies.

The statutory provisions relating to transfer rights, including the right to a cash equivalent1 apply to a member2 of a pension scheme if all the following conditions are met3:

  1.  

    (1)     that the member has accrued rights4 to any category5 of benefits under the scheme rules6;

  2.  

    (2)     that no crystallisation event7 has occurred in relation to the member's accrued rights to benefits in that category8;

  3.  

    (3)     that: (a) the member is no longer accruing rights to benefits in that category