Rec Factor not validating

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Hell Experts,

I am having an issue with the Rec Factor not validating on a peice of script logic.

*XDIM_MEMBERSET TIME = BAS(2018.TOTAL,2017.TOTAL)
*XDIM_MEMBERSET RPTCURRENCY = GBP,LC
*XDIM_MEMBERSET AUDITTRAIL = INPUT_PLA_BFA_OVERLAY
*XDIM_MEMBERSET VERSION = FINAL_OVERLAY
*XDIM_MEMBERSET ACCOUNT_PLAN = BAS(AP_010000)
*XDIM_MEMBERSET CHANNEL = CH_OW,CH_SW,CH_WT,CH_FR,CH_DU
*XDIM_MEMBERSET CONSOSCOPE = NO_SCOPE, GROUP_MS
*XDIM_MEMBERSET COSTOWNER = BAS(TOT_CBO)
*XDIM_MEMBERSET INTERCOMPANY = I_NONE
*XDIM_MEMBERSET MARKET = BAS(TOT_MAR)
*XDIM_MEMBERSET PRODUCT = BAS(TOT_PRD)
*XDIM_MEMBERSET REPORTUNIT = BAS(TOT_MRK_REU)
*XDIM_MEMBERSET RPTDETAIL = SITE_DUMMY
*XDIM_MEMBERSET TRANSCURRENCY = BAS(TOTAL_TRANSCURRENCY)
*XDIM_MEMBERSET TRANSTYPE = TT_NONE

*WHEN VERSION
*IS FINAL_OVERLAY
*REC (FACTOR = 1,VERSION = FINAL)
*ENDWHEN
*COMMIT

When I try to validate the script I am getting the following message

Invalid When/Endwhen Line 21. I have bolded line 21. When i comment out the rec statement the logic validates.

I am sure this is something very simple that i am missing.

BR