5(1)In this Schedule—
“Consultative Council” means a Consultative Council established under section 7A of the M1Electricity Act 1947 for the district of a Scottish 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 employee of a Consultative Council” means any person who, immediately before the transfer date, is employed by a Consultative Council;
“existing employee of the Scottish Boards” means any person who, immediately before the transfer date, is employed by one or other of those Boards or falls to be treated as so employed 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 North Scheme or the South Scheme but has pension rights under one or other (or both) of the schemes 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—
all forms of right to or eligibility for the present or future payment of a pension to or in respect of him; and
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 Chapter I of Part XIV of the M3Income and Corporation M4Taxes Act 1988 (retirement benefit schemes) and Part III of the Social Security Pensions Act 1975 (contracted-out pension schemes);
“relevant scheme” has the meaning given by paragraph 2(1) above;
“wholly-owned subsidiary” has the same meaning as in the M5Companies Act 1985.
(2)For the purposes of this Schedule, a company is wholly owned by one or more other companies if it has no members except—
(a)that other or those others and its or their nominees; and
(b)wholly-owned subsidiaries of that other or those others and their nominees.
(3)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.