(1) At any time assets of a PRSA are allowed to be made available to a beneficiary in accordance with section 787K, that individual may opt to have those assets transferred to an approved retirement fund and the PRSA administrator shall make that transfer.
(2) The assets that a PRSA administrator shall transfer to an approved retirement fund in accordance with subsection (1) shall be the assets available in the PRSA at the time the election under that subsection is made less any lump sum the PRSA administrator is permitted to pay without deduction of tax in accordance with section 787G(3)(a).
(3) Where an individual opts in accordance with subsection (1), sections 784A and 784B shall apply as if that option were an option in accordance with section 784(2A).