The Railway Pensions (Substitution and Miscellaneous Provisions) Order 1995

Citation, commencement and interpretation

6.—(1) Schedules 1 and 2 to this Order shall have effect for the purpose of—

(a)requiring the Secretary of State to make payments in respect of the capital values of the unfunded obligations specified in articles 3 and 5; and

(b)providing for the accrual and payment of interest on the outstanding balances of the capital values of the unfunded obligations specified in articles 3 and 5.

(2) Any payment required to be made by the Secretary of State under Schedule 1 or 2 shall be made to the persons administering the Paragraph 2 Section and the Paragraph 5 Section.