(1) Subject to articles 31 (2) and 31 (3) the transfer amount in respect of a designated benefit, or part of a designated benefit, which has been calculated on a defined benefit basis and which is being applied, pursuant to section 12 (5) of the Act of 1995 or section 17 (5) of the Act of 1996 shall be the actuarial value of the designated benefit or part thereof payable from that pension scheme as at the date of receipt by the trustees of a valid application.
(2) Subject to article 31 (3) where the member spouse is an active member of the pension scheme concerned at the date of receipt by the trustees of a valid application, the designated benefit, for the purposes of calculating a transfer amount, shall be the designated benefit which would have been payable had the member spouse's reckonable service terminated on the date of receipt of such application and had the designated benefit been calculated in accordance with article 11.
(3) The transfer amount shall be calculated on a basis
…