(1) On or as soon as is practicable after the date on which an application by a participant under section 85 is allowed under subsection (2) of that section, on review under section 114 or on appeal under section 116, the Authority shall -

(a) ascertain the number of units in any AE provider scheme that the Authority holds on behalf of the participant,

(b) instruct the investment management provider providing the scheme to redeem that number of units and pay the proceeds to the Authority within a time specified by the Authority,

(c) credit to the participant's account after deducting any fees payable in accordance with regulations made under section 35 -

(i) the redemption value of the units at the date the application is allowed, or

(ii) where subsection (2) applies, the amount referred to in that subsection, and

(d) send to the participant a notification that the balance in the participant's account is eligible for withdrawal in accordance with this Part.