Alterations in the terms of a certain scheme for providing pensions and other benefits
5.—(1) This Article shall apply to the London Midland and Scottish Railway (London North Western) Provident and Pension Society and Supplemental Pension Fund.
(2) Where a member of that pension scheme becomes a member of the New Fund on or after the 2nd September 1968 the following provisions shall have effect:–
(a)upon the date of his admission to membership of the New Fund he shall cease to be entitled to receive from that scheme any benefit payable on retirement or death in relation to that scheme and (subject to this Order) such adjustment as may be appropriate shall be made in respect of the liability of that member to pay contributions to that scheme after that date; and
(b)as soon as may be after that date the persons administering that pension scheme shall pay to the New Fund an appropriate transfer value in respect of the accrued pension rights of that member in that scheme to such benefits.