(1)  The Board must maintain separate accounts for money paid to it under –

(a) section 29D of the Retirement Benefits Act 1982 ; or

(b) section 29E of the Retirement Benefits Act 1982 ; or

(c) where appropriate, a prescribed arrangement.

(2)  The Board must credit to the separate accounts as may be appropriate –

(a) all such money paid; and

(b) interest at a rate determined in accordance with regulation 112 in respect of the amounts from time to time standing to the credit of those accounts.

(3)  The Board may debit the separate accounts with any of the following amounts:

(a) an amount relating to the taxation liability and to the expenses incurred in the administration of the accounts;

(b) an amount authorised by these regulations;

(c) an amount approved by an instrument in writing made by the Minister for the purposes of these regulations.