2.
Regulation 4 of the Pensions Increase (Local Authorities' etc. Pensions) Regulations 19742 is amended—
(a)
in paragraph (1), by inserting after the words “they shall”
the words “, subject to paragraph (1C),”
; and
(b)
by inserting after paragraph (1B) the following:
“(1C)
In the case of a pension specified in paragraph 1 of the Schedule to these regulations which is payable in respect of service ending with service under a public transport company within the meaning of Part IV of the Transport Act 19853, the authority by whom the pension is payable shall be reimbursed by the body which, when the company was formed, was its controlling authority within the meaning of that Part the cost of any increase of pension payable by virtue of these regulations.”.