In this Schedule—

• “Consultative Council” means a Consultative Council established under section 7 of the M1Electricity 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 M2Electricity 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—

  1. a

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

  2. 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 F3Part 4 of the Finance Act 2004 (pension schemes etc) and Part III of the F1Pension 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.

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.