Part IVRailways
Chapter IIOther provisions about railways
Pensions
245Amendments of pension protection provisions
1
In paragraph 6(2)(a)(ii) of Schedule 11 to the [1993 c. 43.] Railways 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 [S.I. 1994/1432.] Railway 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 [1993 c. 43.] Railways Act 1993 (and, accordingly, may be varied or revoked by an order so made).