367. Creation of pension credits and debits.

On the application of these provisions1 regarding the creation of pension credits and debits2: (1) the transferor's3 shareable rights4 under the relevant arrangement5 become subject to a debit of the appropriate amount6; and (2) the transferee7 becomes entitled to a credit of that amount as against the person responsible for that arrangement8.

Where the relevant order or provision9 specifies a percentage value to be transferred, the appropriate amount is the specified percentage of the cash equivalent of the relevant benefits on the valuation day10. Where the relevant order or provision specifies an amount to be transferred, the appropriate amount is