(1) An approved trustee of a scheme shall not charge fees or impose financial penalties for the transfer of the member's accrued benefits to another scheme or from one account to another account within the scheme where contributions have ceased to be paid to a registered scheme by or on behalf of a scheme member.

(2) Sub regulation (1) applies to the first transfer of benefits made in  respect of the member and only if

(a) the transfer is made within twelve months after the date on which the contributions ceased to be paid; and

(b) The amount of benefits, at the time of the transfer, does not exceed fifty Ghana Cedis.