The British Transport (Amalgamation of Railways' Pension Funds) (No. 2) Order 1970

Amendments to the British Transport (Amalgamation of Railways' Pension Funds) (No. 1) Order 1970

4.—(1) For paragraph 1 of Schedule 2 to the No. 1 Order of 1970 (which relates to the constitution of the Management Committee) there shall be substituted the following:—

“1.The.   Management Committee shall consist of 20 persons, of whom 10 shall be Board's committee-men and 10 members' committee-men.”

(2) The Management Committee of the Amalgamated Fund shall, as soon as may be after the 14th September 1970, convene an Extraordinary Meeting of members of that fund for the purpose of the election of persons as contributors' or members' committee-men for the existing Sectional Committees to take the place of any persons who, on becoming members of the New Fund, have ceased to be members of the Amalgamated Fund and have, in consequence, ceased to be eligible to continue as such contributors' or members' committee-men. Until such election has taken place, the persons who immediately before the 14th September 1970 are the members of the Management Committee and the existing Sectional Committees may continue to act as such members notwithstanding that their eligibility to be such members may have ceased as aforesaid.

(3) The provisions of paragraph (1) of this Article shall have effect for the purpose of the application by Article 3 of this Order of certain provisions of the No. 1 Order of 1970 to the New Fund, but for the purpose of paragraph (2) of this Article the application of those provisions of the said Order to the New Fund shall be disregarded.

(4) For paragraph 4(1) of Schedule 5 to the No. 1 Order of 1970 (which relates to the accounts of the Amalgamated Fund) there shall be substituted the following:—

“(1) The annual income and expenditure accounts shall be made up separately for each section and the annual balance sheet shall be made up for the amalgamated fund as a whole.”