1(1)The Secretary of State may make regulations amending the Hydroboard Superannuation Fund (in this Schedule referred to as “the North Scheme”) and the South of Scotland Electricity Board’s Superannuation Scheme (in this Schedule referred to as “the South Scheme”) for any of the following purposes, namely—E+W+S
(a)for enabling members, former members and existing employees of the Scottish Boards to participate in or acquire pension rights under the North Scheme or the South Scheme on such terms and conditions as may be prescribed;
(b)for requiring any persons to make payments to the trustees of the schemes in such circumstances as may be prescribed;
(c)for enabling either scheme, or both schemes, to be wound up (in whole or in part) in such circumstances as may be prescribed; and
(d)for securing that the schemes continue to be approved for the purposes of the relevant enactments notwithstanding the transfers made by this Act and the repeal by this Act of section 37 of the M1Electricity (Scotland) Act 1979.
(2)Without prejudice to the generality of paragraph (c) of sub-paragraph (1) above, regulations made for the purposes of that paragraph may require persons not participating in—
(a)the North Scheme to make payments to the trustees of the North Scheme;
(b)the South Scheme to make payments to the trustees of the South Scheme.
(3)Regulations under this paragraph may make such supplemental, consequential and transitional provision as the Secretary of State considers appropriate.
(4)Regulations under this paragraph may be made so as to have effect from a date prior to their making, so however that so much of any regulations as provides that any provision of regulations shall have effect from a date prior to their making shall not place any person other than the Boards or existing bodies (within the meaning of Schedule 14 to this Act), or their successor companies, in a worse position than he would have been in if the regulations had been made to have effect only from the date of their making.
(5)Regulations under this paragraph shall not be made at any time after any Scottish electricity company has ceased to be wholly owned by the Crown.
Marginal Citations