415. Permitted ways of using cash transfer sum.

The following provisions1 apply in relation to a cash transfer sum2 to which a member3 of an occupational pension scheme4 acquires a right under the statutory provisions5. The ways in which the cash transfer sum may be used are:

  1.  

    (1)     for acquiring transfer credits6 allowed under the rules of another occupational pension scheme: (a) whose trustees or managers are able and willing to accept the cash transfer sum; and (b) which satisfies prescribed requirements