103Certain investment nominations to continue in operation

103 Certain investment nominations to continue in operation

(1) An investment nomination in force under subrule 103(2)(a former nomination) immediately before the commencement of this rule is to be taken: (a) if made by a member—to have been made under subrule 11Q(1) and to continue in force until changed by the member under subrule 11Q(4); or (b) if made by a DFRDB member—to have been made under rule 104 and to continue in force until changed by the member under that rule. (2) However, subrule (1) does not apply to a former nomination by a member if: (a) the member had also, before the commencement of this rule, made an investment nomination under subrule 11Q(1); and (b) the investment nomination under subrule 11Q(1) had the same effect as the former nomination; and (c) the investment nomination under subrule 11Q(1) was in force immediately before that commencement.