These Regulations are principally made under the new Chapter 5 of Part 4 of the Pensions Schemes Act 1993 (c. 48) (“the Act”) inserted by section 264 of the Pensions Act 2004 (c. 35). Chapter 5 makes provision for a member who leaves after 3 months pensionable service in an occupational pension scheme to be entitled to a cash transfer sum which might be used to acquire rights under another occupational pension scheme or personal pension scheme or to a refund of his employee contributions.