(1)The persons to whom section 1 of the M1Superannuation Act 1972 applies (persons to or in respect of whom benefits may be provided by schemes under that section) shall include—
(a)persons who at any time after the passing of this Act are serving in employment with the company formed and registered under the M2Companies Act 1948 and known at the passing of this Act as the Further Education Unit; and
(b)persons who at any time before the passing of this Act have ceased to serve in employment with that company;
and accordingly a reference to that company shall be inserted at the appropriate point in the alphabetical list of “Other Bodies” in Schedule 1 to that Act.
(2)That company shall pay to the Treasury, at such times as the Treasury may direct, such sums as the Treasury may determine in respect of the increase attributable to this section in the sums payable out of money provided by Parliament under that Act.