The British Transport (Amalgamation of Railways' Pension Funds) (No. 2) Order 1970

Commencement, citation and interpretation

1.—(1) This Order shall come into operation on the 14th September 1970, and may be cited as the British Transport (Amalgamation of Railways' Pension Funds) (No. 2) Order 1970.

(2) In this Order, unless the context otherwise requires—

“the Amalgamated Fund” has the same meaning as in the No. 1 Order of 1970, and references to an existing section or Sectional Committee in relation to the Amalgamated Fund are references to a section or Sectional Committee as defined in that Order;

“the Board” means the British Railways Board;

“funded scheme” means a pension scheme (not being an insurance scheme) where the pensions are payable out of a fund held by any person for the purposes of the scheme;

“insurance scheme” means a pension scheme where the pensions are provided by means of contracts or policies made or effected with an insurance company carrying on life assurance business within the meaning of the Insurance Companies Act 1958 (including contracts or policies made or effected with such a company for the purpose of implementing any form of private superannuation fund);

“the Male Wages Grades Scheme” means the pension scheme established by the British Transport Commission (Male Wages Grades Pensions) Regulations 1954(1) as amended(2), (as that scheme now has effect subject to the provisions of any Order made by the Minister under section 74 of the Transport Act 1962);

“the Minister” means the Minister of Transport;

“the New Fund” means the New Section of the British Railways Superannuation Fund constituted and established by the Board, with the consent of the Minister, under the terms of a Trust Deed executed by the Board on the 21st August 1970;

“the No. 1 Order of 1970” means the British Transport (Amalgamation of Railways' Pension Funds) (No. 1) Order 1970(3);

“the persons administering”, in relation to a pension scheme, means the persons responsible for administering the scheme under the terms thereof, and includes the trustees (if any) of the scheme;

“the service” means whole time employment with the Board or with a subsidiary of the Board; and

“term”, in relation to a pension scheme to which this Order applies, includes any rule or provision of the scheme, or of any statutory provision relating to the scheme, or of any deed or other instrument made for the purposes of the scheme.

(3) The Interpretation Act 1889 shall apply for the interpretation of this Order as it applies for the interpretation of an Act of Parliament.

(1)

(1954 I, p. 175).

(2)

S.I. 1957/1455, 1960/784 (1957 I, p. 177; 1960 I, p. 430).

(3)

(1970 I, p. 1582).