The Industry-Wide Coal Staff Superannuation Scheme Regulations 1994

Citation and Commencement

1.  These regulations may be cited as the Industry-Wide Coal Staff Superannuation Scheme Regulations 1994 and shall come into force on 15th December 1994.

Interpretation

2.  In these Regulations

“the 1994 Act” means the Coal Industry Act 1994;

“the Scheme” means the British Coal Staff Superannuation Scheme which was established under the Coal Industry Nationalisation (Superannuation) Regulations 1946(1) made under section 37 of the Coal Industry Nationalisation Act 1946(2) on 1 January 1947 by a resolution of 31 December 1946 of the National Coal Board and which was amended and continued to have effect by a resolution of 18 July 1947 of that Board and was further amended by subsequent resolutions of that Board the name of which was changed to the British Coal Corporation by section 1(1) of the Coal Industry Act 1947(3);

“the Co-ordinator” means Industry-Wide Coal Staff Superannuation Scheme Co-ordinator Limited.

Establishment of new pension scheme

3.  The Co-ordinator shall establish by means of a trust deed entered into between the Co-ordinator and Industry-Wide Coal Staff Superannuation scheme Trustees Limited a pension scheme in which participants in the Scheme, being an existing scheme within the meaning of Schedule 5 to the 1994 Act, are able to participate in accordance with the provisions of paragraph 3 of Schedule 5 to the 1994 Act.

Provisions of new pension scheme

4.  The pension scheme required by regulation 3 above to be established shall be in the terms of a trust deed as set out in the Schedule to these Regulations which contains provision as specified in paragraph 3(6) of Schedule 5 to the 1994 Act satisfying the Statutory requirements by reference to the Scheme as an existing scheme within the meaning of Schedule 5 to the 1994 Act.

Tim Eggar,

Minister for Industry and Energy,

Department of Trade and Industry

22nd November 1994