The British Railways Board (Central Trust) Order 1974

Commencement, citation and interpretation

1.—(1) This Order shall come into operation on 1st January 1975, and may be cited as the British Railways Board (Central Trust) Order 1974.

(2) In this Order, unless the context otherwise requires—

“the Board” meansthe British Railways Board;

“the Central Trust” meansthe trust constituted by a deed executed by the Board on 22nd November 1974 for establishing a central fund for the purposes of receiving, holding, investing and applying payments made under section 5 of the Railways Act 1974 (which relates to the funding of railway pension schemes) and other payments made and assets transferred in connection with pension schemes in the railway industry, “the Central Trust deed” meansthat deed and “the trustees of the Central Trust” meansthe trustees for the time being of the Central Trust;

“the persons administering”, in relation to a pension scheme, means the persons responsible for administering the scheme under the terms applicable thereto, and includes the trustees (if any) of the scheme;

“Scheduled pension scheme” meansa pension scheme (being a scheme for providing pensions or other benefits wholly or mainly for or in respect of employees or former employees of the Board, or of any subsidiary of the Board, or of any person or body whose undertaking now forms part of the undertaking of the Board or of a subsidiary of the Board) specified in the Schedule to this Order, and “the Scheduled pension schemes” meansall the schemes so specified;

“term” in relation to a pension scheme to which this Order applies, includes any rule or provision of the scheme, or of any statutory provision relating to the scheme, or of any deed or other instrument made for the purposes of the scheme.

(3) The Interpretation Act 1889 shall apply for the interpretation of this Order as it applies for the interpretation of an Act of Parliament.