Transfer to ordinary account of moneys credited to retirement account under section 19 or 19A of Act in excess of retirement sum
8C.—(1) This regulation applies where —
(a)
a member’s moneys in the retirement account is transferred —
(i)
to the retirement account of a relevant individual under section 18(1)(a) or (2)(a) of the Act; or
(ii)
to the special account of a relevant individual under section 18(3)(a) of the Act; and
(b)
on the death of the relevant individual, the transferred amount in sub-paragraph (a), or the balance of that amount, is then credited to the member’s retirement account under section 19(2)(a) or 19A(2)(a) of the Act.
(2) Upon the crediting of the amount in paragraph (1)(b), the Board must transfer the credited amount to the member’s ordinary account.