PART IVTRANSFER OF RIGHTS AND LIABILITIES OF HOLDING COMPANY

Transfer of certain liabilities10

1

The liability of the Holding Company to make, in relation to any such person as is mentioned in this paragraph, payments or contributions to some other nationalised transport body under any of the provisions mentioned in paragraph (2) of this Article shall be transferred to the Freight Corporation, the Bus Company or the Scottish Group according as the person in relation to whom the payments or contributions fall to be made becomes, on the date of the relevant transfer mentioned in Article 8(2) above, an employee of such body or of a subsidiary of such body, or would then have become such an employee had he been in the employment of a nationalised transport body immediately before that date.

2

The provisions referred to in paragraph (1) of this Article are the provisions of—

a

Article 5 of the British Transport Reorganisation (Pensions of Employees) (No. 1) Order 19625,

b

Articles 13 and 14 of the British Transport Reorganisation (Pensions of Employees) (No. 3) Order 19626,

c

Article 10 of the British Transport Reorganisation (Pensions of Employees) (No. 4) Order 19627,

d

Articles 7 and 8 of the British Transport Reorganisation (Pensions of Employees) (No. 1) Order 1964.