Electricity Act 1989

5 (1) In this Schedule— E+W+S

• “Consultative Council” means a Consultative Council established under section 7 of the M1 Electricity Act 1947 for the area of an Area Board;

• “employer”, in relation to a person employed by a company which is a wholly-owned subsidiary of another company, includes that other company;

• “existing body” means any of the following, namely, the Area Boards, the Generating Board and the Electricity Council;

• “existing employee” means any person who, immediately before the transfer date, is employed by an existing body or a Consultative Council, or falls to be treated as employed by an existing body by virtue of regulations made under section 54(4) of the M2 Electricity Act 1947 (service as a member to count as service as an employee);

• “former participant” means any person who, immediately before the transfer date, is not a participant in the scheme but has pension rights under the scheme by virtue of his having been such a participant;

• “pension”, in relation to any person, means a pension of any kind payable to or in respect of him, and includes a lump sum, allowance or gratuity so payable and a return of contributions, with or without interest or any other addition;

• “pension rights”, in relation to any person, includes—

  (a)

  all forms of right to or eligibility for the present or future payment of a pension to or in respect of him; and

  (b)

  any expectation of the accruer of a pension to or in respect of him;

  and includes a right of allocation in respect of the present or future payment of a pension;

• “the relevant enactments” means [F1 Part 4 of the Finance Act 2004 (pension schemes etc)] and Part III of the [F2 Pension Schemes Act 1993 (so far as relating to occupational pension schemes within the meaning of that Act)];

• “relevant scheme” has the meaning given by paragraph 2(1) above;

• “the scheme” has the meaning given by paragraph 1(1) above;

• “wholly-owned subsidiary” has the same meaning as in the Companies Act 1985.

(2) For the purposes of this Schedule, a company is wholly owned by one or more other companies if it has no members except—

(a) that other or those others and its or their nominees; and

(b) wholly-owned subsidiaries of that other or those others and their nominees.

(3) Subject to sub-paragraph (1) above, expressions used in this Schedule which are also used in Part I or II of this Act have the same meanings as in that Part.

Textual Amendments

F1 Words in Sch. 14 para. 5(1) substituted (6.4.2006) by The Taxation of Pension Schemes (Consequential Amendments) Order 2006 (S.I. 2006/745), arts. 1, 3(2)(b)

F2 Words in Sch. 14 para. 5(1) substituted (7.2.1994) by 1993 c. 48, ss. 190, Sch. 8 para.23 (with ss. 6(8), 164); S.I. 1994/86, art. 2

Marginal Citations

M1 1947 c. 54.

M2 1947 c. 54.