31. Notwithstanding section 30, the annuity contract may provide that:
(1) the purchaser may transfer, in whole or in part, the commuted value of the pension that he receives or his deferred pension to a pension plan governed by the Act or referred to in paragraph 1, 2, 2.1, 2.2, 3.1, 4 or 5 of section 28;
(2) the purchaser may, if a physician certifies that his physical or mental disability reduces his life expectancy, replace all or a part of his deferred pension by a payment or a series of payments; that payment or, as the case may be the sum of those payments must at least equal the discounted value of the pension or of the part thereof replaced;
(3) that the purchaser, if he meets the following conditions:
— make an application to this effect to the insurer, accompanied with a declaration in conformity with the one prescribed in Schedule 0.10, prior to the beginning of payment of the pension to be replaced;
— be at least 55 years of age but less than 65 years of age,
may replace, in whole or in part, the pension referred to in paragraph 2 of section 30 with a temporary pension the annual amount of which may not, for the year in which payment begins, exceed 40% of the Maximum Pensionable Earnings determined pursuant to the Act respecting the Québec Pension Plan (chapter R-9).