Part IV Railways
Chapter II Other provisions about railways
Pensions
I1245 Amendments of pension protection provisions.
1
In paragraph 6(2)(a)(ii) of Schedule 11 to the M1Railways Act 1993 (power to make order providing for pension rights of protected persons to be no less favourable as a result of a transfer of pension rights), after “rights” insert “
(whether made between occupational pension schemes or sections of an occupational pension scheme or otherwise)
”
.
2
The M2Railway Pensions (Protection and Designation of Schemes) Order 1994 is amended as follows.
3
In article 6 (transfers etc.), insert at the end—
9
In paragraphs (2), (3), (5), (7)(a) and (b)(i) and (8) references to an occupational pension scheme include a section of such a scheme.
4
In article 7(4) (payments on transfers), insert at the end (but not as part of sub-paragraph (b))—
and in this paragraph references to an occupational pension scheme include a section of such a scheme.
5
In article 9 (circumstances in which breaks in continuity of employment are disregarded)—
a
in paragraph (2), omit “, except to the extent specified in paragraph (3),” and “relevant” (in both places), and
b
in paragraph (3), for “this article” substitute “
paragraph (1)
”
.
6
In article 11(4) (activities to be regarded as the railway industry)—
a
after “of Schedule 11 are” insert “
the activities of the Authority or any subsidiary of the Authority and activities consisting of
”
, and
b
for “in each case” substitute “
in each of the cases in sub-paragraphs (a) to (d)
”
.
7
Omit paragraphs 13 and 14 (arbitration).
8
The amendments made by subsections (3) to (7) shall be treated as if made by an order made under Schedule 11 to the M3Railways Act 1993 (and, accordingly, may be varied or revoked by an order so made).