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Transport Act 1962
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73 The powers of the Boards and the Holding Company as regards pensions and pension schemes. U.K.
(1)Subject to the next following section, each of the Boards and the Holding Company shall have power to pay pensions and enter into obligations under pension schemes.
(2)Each of the Boards and the Holding Company shall have power to lend money to be applied for the purposes of a pension scheme under which any of those bodies, or a subsidiary of any of those bodies, pay employer’s contributions or are subject to any other obligations, but shall not exercise that power without the consent of the Minister.
[F1(3)In the application of this section to the British Waterways Board, the reference to the Minister is to be read as a reference to the Scottish Ministers.]
Textual Amendments
F1S. 73(3) inserted (2.7.2012) by The British Waterways Board (Transfer of Functions) Order 2012 (S.I. 2012/1659), art. 1(2), Sch. 2 para. 24 (with arts. 4-6)
Modifications etc. (not altering text)
C1S. 73 extended by Transport Act 1968 (c. 73), s. 136
C2S. 73 amended (E.W.) by London Regional Transport Act 1984 (c. 32, SIF 126), s. 25(1)
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