8(1)The Corporation may appoint, on such terms and conditions as it may, with the approval of the Secretary of State, determine, such other employees as it thinks fit.
(2)In respect of such of its employees as it may, with the approval of the Secretary of State, determine, the Corporation shall make such arrangements for providing pensions, allowances or gratuities as it may determine; and such arrangements may include the establishment and administration, by the Corporation or otherwise, of one or more pension schemes.
(3)The reference in sub-paragraph (2) above to pensions, allowances or gratuities to or in respect of employees of the Corporation includes a reference to pensions, allowances or gratuities by way of compensation to or in respect of any of the Corporation’s employees who suffer loss of office or employment or loss or diminution of emoluments.
(4)The Secretary of State with the consent of the Treasury may, by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament, make regulations providing for—
(a)the transfer to, and administration by, Housing for Wales of any superannuation fund maintained by the Housing Corporation in terms of the provisions of any scheme made under section 7 of the M1Superannuation Act 1972; and
(b)the modification, for the purposes of the regulations, of that section or any scheme thereunder.
(5)If an employee of the Corporation becomes a member of the Corporation and was by reference to his employment by the Corporation a participant in a pension scheme administered by it for the benefit of its employees—
(a)the Corporation may determine that his service as a member shall be treated for the purposes of the scheme as service as an employee of the Corporation whether or not any benefits are to be payable to or in respect of him by virtue of paragraph 6 above; but
(b)if the Corporation does so determine, any discretion as to the benefits payable to or in respect of him which the scheme confers on the Corporation shall be exercised only with the approval of the Secretary of State.
(6)Any reference in the preceding provisions of this paragraph to the approval of the Secretary of State is a reference to that approval given with the consent of the Treasury.
Marginal Citations