(1)The Secretary of State may by order make provision for the allocation of assets, rights, liabilities or obligations between different sections of the Civil Aviation Authority Pension Scheme.
(2)An order under this section may include provision for or in connection with—
(a)securing that the Scheme continues to be approved for the purposes of the relevant enactments;
(b)the amendment of the Scheme;
(c)the manner in which questions arising under the order are to be determined.
(3)The reference in subsection (2) to the amendment of the Scheme includes a reference to the amendment of—
(a)the trust deed of the Scheme;
(b)the rules of the Scheme;
(c)any other instrument relating to the constitution, management or operation of the Scheme.
(4)An order under this section may be made so as to have effect from a date falling before the making of the order.
(5)In making an order under this section the Secretary of State must secure that each person falling within subsection (6) is overall in materially at least as good a position, as respects pension arrangements, as a result of the order.
(6)A person falls within this subsection if—
(a)he is or has at any time been a contributing member of the Scheme, or
(b)he is or may become entitled to benefits in respect of a person falling within paragraph (a).
(7)A contributing member of the Scheme is a member who makes, and whose employer makes in respect of him, contributions under the Scheme.
(8)The relevant enactments are—
(a)Chapter I of Part XIV of the M1Income and Corporation Taxes Act 1988 (retirement benefit schemes);
(b)Part III of the M2Pension Schemes Act 1993, so far as relating to occupational pension schemes.
Commencement Information
I1S. 96 wholly in force at 1.2.2001, see s. 275(1)(2) and S.I. 2001/57, art. 3(1), Sch. 2 Pt. I (subject to the transitional provision and saving in Sch. 2 Pt. II)
Marginal Citations