Office of Public Sector Information
SCHEDULE 11 continued
(7) Where notice has been given under subsection (1), the Minister may—
(a) at any time before the expiration of the period of eleven months beginning with the financial year mentioned in subsection (2)(a) as it applies in relation to that notice, and
(b) after consultation with the persons administering the scheme in question and the actuary to the scheme,
amend that notice by giving notice of the amendment to the persons administering the scheme.
(8) If notice is given under subsection (7) of an amendment affecting the amount of a payment which has been made pursuant to this section, the Minister may also give notice to the persons administering the scheme in question requiring them—
(a) to repay to him so much of the payment made as exceeds the amended amount; and
(b) to pay interest to him, at such rate as he may determine, on the amount to be repaid, as from the date on which the payment in question was made by him;
and where notice is given under paragraph (a) or (b), the amount required to be repaid or, as the case may be, the amount of interest required to be paid from time to time, shall be treated as a debt due from those persons to the Minister.
(9) In any case where—
(a) notice has been given under subsection (1), the effect of which (whether taken alone or with other notices under that subsection) is that notice has been given under that subsection in respect of all pension rights under the scheme in question, and
(b) for that financial year in which the notice mentioned in paragraph (a) is given, the aggregate amount of the payments made under section 52(1) in relation to the scheme requires adjustment for the reason set out in section 52(3)(a) or (b), but
(c) the required adjustment cannot be made as mentioned in section 52(3), because (in consequence of the notice mentioned in paragraph (a)) no payments under section 52(1) fall to be made in relation to that scheme for subsequent financial years,
payments by way of adjustment, of an amount equal in the aggregate to the amount of the required adjustment, shall instead be made by the Minister to the persons administering the scheme or, as the case may require, by those persons to the Minister, before the expiration of the period of six months beginning with the date on which the amount of the required adjustment is determined.
(10) The Minister may give a direction to the persons administering a B.R. pension scheme requiring them to furnish to him—
(a) information from which the proportion mentioned in section 55(1)(a) can be finally determined for the financial year mentioned in subsection (9)(b) in the case of the scheme; or
(b) information about any such unforeseen increase or reduction in the aggregate amount of the pensions, increases and expenses payable under or incurred in connection with the scheme for that financial year as is mentioned in section 52(3)(b).
(11) Where payments by way of adjustment fall to be made under subsection (9), interest shall be payable from the end of the financial year in which the notice mentioned in subsection (9)(a) is given, by the person liable to make those payments, at such intervals and rates as may be determined by the Minister, on so much of the aggregate amount of the payments in question as for the time being remains unpaid.
(12) So much of—
(a) any payment by way of adjustment under subsection (9) which falls to be made, or
(b) any interest accrued under subsection (11),
as has not been paid shall be treated as a debt due.
(13) Nothing in this section affects the liability of the Board in respect of any relevant pension obligations.
(14) For the purposes of this section, the “capital value of the attributable unfunded obligations”, in the case of any B.R. pension scheme, means such amount as is, in the opinion of the person determining that capital value pursuant to subsection (4), the capital equivalent of the payments that would, apart from this section, have been expected to be made by the Minister under section 52(1), so far as relating to the pension rights identified in the notice under subsection (1), for the successive financial years beginning with the one mentioned in subsection (2)(a).
(15) Any sums required for the making of payments under this section by the Minister shall be paid out of money provided by Parliament.”.
(3) After the section 52A inserted by sub-paragraph (2) above, there shall be inserted—
(1) The Minister may make a substitution order in relation to any occupational pension scheme—
(a) which is a new scheme, within the meaning of Schedule 11 to the Railways Act 1993;
(b) which is designated under paragraph 10(1) of that Schedule (designation of schemes which are to be treated as B.R. pension schemes for certain purposes of this Part); and
(c) in relation to which a guarantee has been given by the Secretary of State under paragraph 11 of that Schedule;
and any reference in this section to a “guaranteed pension scheme” is a reference to such an occupational pension scheme.
(2) The Minister may also make a substitution order in relation to any section of a new scheme, within the meaning of Schedule 11 to the Railways Act 1993, if the section is one—
(a) which is designated under paragraph 10(1) of that Schedule; and
(b) in relation to which a guarantee has been given by the Secretary of State under paragraph 11 of that Schedule;
and the following provisions of this section (and sections 52C and 52D) shall apply in relation to any such section of a new scheme as if any reference to a guaranteed pension scheme included a reference to such a section.
(3) For the purposes of this section, a “substitution order” is an order under this section the effect of which is—
(a) to terminate, from the termination date, the Minister’s liability to make to the persons administering the guaranteed pension scheme in question payments under section 52(1) in relation to the scheme; and
(b) to impose on the Minister, in substitution for that liability, an obligation to make to those persons, subject to and in accordance with the following provisions of this section, one or more other payments (the “substitution payments”) in relation to that scheme.
(4) Subject to the following provisions of this section, the amount of the substitution payments to be made in the case of a guaranteed pension scheme shall be equal in the aggregate to the sum of—
(a) the amount specified pursuant to subsection (5)(a) as the capital value of the unfunded obligations in the case of the scheme; and
(b) the aggregate amount of any interest which is dealt with as mentioned in subsection (8)(b)(ii) in the case of the scheme.
(5) A substitution order must specify—
(a) the capital value of the unfunded obligations in the case of the guaranteed pension scheme in question, as at the termination date; and
(b) the date which, for the purposes of this section, is to be the termination date in relation to that scheme, being a date not earlier than one month after the coming into force of the substitution order.
(6) Any determination for the purposes of this section of the capital value of the unfunded obligations in the case of a guaranteed pension scheme shall either—
(a) be made by the Minister; or
(b) if the Minister so requires in the particular case, be made by the actuary to the guaranteed pension scheme in question and approved by the Minister.
(7) A substitution order may specify—
(a) the amount or amounts, or the method of determining the amount or amounts, of the substitution payments,
(b) the date or dates on which the substitution payments are to be made,
(c) circumstances (which may, if the Minister so desires, be defined by reference to the opinion of any person) in which substitution payments are to be made,
and may provide for the obligation to make substitution payments to be discharged if the guaranteed pension scheme in question has, in the opinion of a person specified or described in, or nominated under, the order, been wound up.
(8) A substitution order must provide—
(a) for interest to accrue from the termination date on the outstanding balance of the capital value for the time being at such rate, and at such intervals, as may be specified in, or determined under or in accordance with, the order; and
(b) for any such interest which accrues—
(i) to be paid to the persons administering the guaranteed pension scheme in question, or
(ii) to be added to the outstanding balance of the capital value,
(or to be dealt with partly in one of those ways and partly in the other);
and the provision that may be made by virtue of paragraph (a) includes provision for the rate of interest to be calculated by reference to any variable or to be such rate as the Minister may from time to time determine and specify in a notice to the persons administering the scheme in question.
(9) For the purposes of subsection (8), the “outstanding balance of the capital value”, in the case of a guaranteed pension scheme, means the capital value of the unfunded obligations in the case of the scheme, as specified pursuant to subsection (5)(a),—
(a) reduced by the amount of any substitution payments made in relation to that scheme; and
(b) increased by any additions of accrued interest under or by virtue of subsection (8)(b)(ii) in relation to that scheme.
(10) Nothing in this section affects the liability of the Board in respect of any relevant pension obligations.
(11) Any sums required for the making of payments under this section by the Minister shall be paid out of money provided by Parliament.
(12) In this section—
“the capital value of the unfunded obligations”, in the case of any guaranteed pension scheme, means such amount as is, in the opinion of the person determining that capital value pursuant to subsection (6), the capital equivalent of the payments that would, apart from this section, have been expected to be made by the Minister under section 52(1) in relation to that scheme after the termination date in the case of that scheme;
“occupational pension scheme” means an occupational pension scheme as defined in section 1 of the [1993 c. 48.] Pension Schemes Act 1993;
“the terminal period”, in the case of any guaranteed pension scheme, means—
if a financial year of the scheme ends with the termination date, that financial year; or
in any other case, so much of the financial year of the scheme in which the termination date falls as ends with that date;
“the termination date”, in the case of any guaranteed pension scheme, shall be construed in accordance with subsection (5)(b);
“the termination year”, in the case of any guaranteed pension scheme, means the financial year of the scheme which consists of or includes the terminal period;
“trustees”, in relation to a guaranteed pension scheme, includes a reference to any persons who, under the rules of the scheme, are under a liability to provide pensions or other benefits but who are not trustees of the scheme.
(1) As soon as practicable after the termination date in the case of any guaranteed pension scheme, there shall be determined, for the terminal period, what proportion of the pensions, increases and expenses payable under, or incurred in connection with, the scheme corresponds to the relevant pension obligations.
(2) Any determination under subsection (1) shall either—
(a) be made by the Minister; or
(b) if the Minister so requires in the particular case, be made by the actuary or auditor to the guaranteed pension scheme in question and approved by the Minister.
(3) The Minister may give a direction to the persons administering a guaranteed pension scheme requiring them to determine the aggregate amount of the pensions, increases and expenses payable under or incurred in connection with the scheme for the terminal period or the termination year and to notify him in writing of their determination.
(4) As respects the termination year of a guaranteed pension scheme, the extent of the liability of the Minister to make payments under section 52(1) in relation to that scheme shall be restricted to a liability to make payments of an amount (the “termination year amount”) equal in the aggregate to the product of—
(a) the proportion determined under section 54(1) for that scheme;
(b) the proportion determined pursuant to subsection (1) in the case of that scheme; and
(c) the aggregate amount of the pensions, increases and expenses payable under or incurred in connection with that scheme in the terminal period;
and payments by way of adjustment shall be made by the Minister to the persons administering the scheme, or (as the case may be) by those persons to the Minister, before the expiration of the period of six months beginning with the date of the last of the determinations made under subsection (1) or (3) with respect to the scheme.
(5) Where, in the case of a guaranteed pension scheme, the funding of the relevant pension obligations has, by virtue of subsection (3) of section 54, been left out of account in making a determination under subsection (1) of that section, the termination year amount in the case of that scheme shall be the difference between—
(a) what that amount would have been, apart from this subsection; and
(b) the amount of any income accruing for the terminal period which may be applied towards the payment of such of the pensions, increases and expenses payable under or incurred in connection with the scheme as correspond to those obligations.
(6) The Minister may give a direction to the persons administering a guaranteed pension scheme requiring them to determine the amount mentioned in subsection (5)(b) and to notify him in writing of their determination.
(7) Where payments by way of adjustment fall to be made, interest shall be payable, as from the termination date, by the person liable to make those payments, at the rates and intervals from time to time applicable for the purposes of section 52B(8)(a) in the case of the scheme in question, on so much of the aggregate amount of the payments in question as for the time being remains unpaid.
(8) So much of—
(a) any payment by way of adjustment which falls to be made, or
(b) any interest accrued under subsection (7),
as has not been paid shall be treated as a debt due.
(9) Any sums required for the making of payments under this section by the Minister shall be paid out of money provided by Parliament.
(10) In this section, “payments by way of adjustment”, in the case of a guaranteed pension scheme, means—
(a) if the Minister has made payments under section 52(1) in relation to that scheme for the termination year which, in the aggregate, exceed the termination year amount, payment to the Minister by the persons administering the scheme of an amount equal to the excess;
(b) if the Minister has made no payments under section 52(1) in relation to that scheme for the termination year, payment by the Minister to those persons of the termination year amount; or
(c) if the Minister has made payments under section 52(1) in relation to that scheme for the termination year which, in the aggregate, fall short of the termination year amount, payment by the Minister to those persons of an amount equal to the shortfall.
(11) Expressions used in this section and in section 52B have the same meaning in this section as they have in that section.
(1) Any power to make an order under section 52B shall be exercisable by statutory instrument made by the Minister after consultation with the trustees of the guaranteed pension scheme to which the order relates.
(2) A statutory instrument containing an order under section 52B shall be subject to annulment in pursuance of a resolution of either House of Parliament.
(3) At the time when a statutory instrument containing an order under section 52B is laid before each House of Parliament pursuant to subsection (2), the Minister shall, if he has not already done so, also lay before each House of Parliament a copy of the guarantee mentioned in subsection (1)(c) of that section; but this subsection is without prejudice to the validity of the order in question.
(4) Any power to make an order under section 52B includes power, exercisable in the same manner, to make such incidental, supplemental, consequential or transitional provision as may appear necessary or expedient to the Minister.
(5) Any order under section 52B may make different provision for different cases or for different classes or descriptions of case.
(6) It shall be the duty of any person to whom a direction is given under section 52A or 52C to comply with and give effect to that direction; and compliance with any such direction shall be enforceable by civil proceedings by the Minister for an injunction or interdict or for any other appropriate relief.
(7) Any power to give a direction under section 52A or 52C includes power to vary or revoke the direction.
(8) Any direction under section 52A or 52C shall be given in writing.
(9) In this section—
“guaranteed pension scheme” has the same meaning as in section 52B;
“trustees”, in relation to a guaranteed pension scheme, has the same meaning as in section 52B.”
(4) In section 70 of that Act, in subsection (2) (interpretation), for the definition of “the Minister” there shall be substituted—
10 (1) The Secretary of State may by order designate—
(a) any occupational pension scheme which would not, apart from this paragraph, be included among the pension schemes which are B.R. pension schemes for the purposes of Part III of the 1980 Act, or
(b) any section of an occupational pension scheme, being a section which would not, apart from this paragraph, be included among those schemes,
as a pension scheme which is to be treated as included among those schemes for the purpose of requiring or enabling him to make to the persons administering the scheme payments under section 52(1), 52A, 52B or 52C of that Act in respect of qualifying pension rights transferred (whether under paragraph 4 above or otherwise) so as to become pension rights under that scheme.
(2) An order under sub-paragraph (1) above may make provision, in any case where qualifying pension rights of any persons are, or are to be, transferred as mentioned in that sub-paragraph, for treating those persons as constituting a section of the occupational pension scheme to which those qualifying pension rights are, or are to be, so transferred.
(3) No order shall be made under sub-paragraph (1) above except after consultation with the trustees of the occupational pension scheme to which the qualifying pension rights are, or are to be, transferred.
(4) Subject to the following provisions of this paragraph, Part III of the 1980 Act shall have effect as if any reference in that Part to a B.R. pension scheme included a reference to a designated scheme.
(5) Where qualifying pension rights are transferred to a designated scheme as mentioned in sub-paragraph (1) above, the proportion referred to in section 52(1)(a) of the 1980 Act in its application by virtue of this paragraph in relation to the designated scheme shall, instead of being determined under section 54 of that Act, be taken to be the proportion which has been determined under that section in relation to the B.R. pension scheme from which the qualifying pension rights are transferred; and references in Part III of that Act to that proportion shall be construed accordingly.
(6) In the application of Part III of the 1980 Act in relation to a designated scheme, references in that Part to “the relevant pension obligations” shall, in relation to the designated scheme, be construed—
(a) as if the reference in section 53(1)(a) of that Act to obligations of the Board which were owed on 1st January 1975 in connection with the scheme were a reference to so much of the obligations of the Board which were owed on that date in connection with a B.R. pension scheme as are obligations in respect of qualifying pension rights transferred to the designated scheme; and
(b) as if the reference in section 53(1)(c) of that Act to an obligation of the Board arising after that date to pay or secure the payment of increases payable under the scheme included a reference to so much of any such obligation of the Board in respect of a B.R. pension scheme as is an obligation in respect of qualifying pension rights transferred to the designated scheme.
(7) In the application of section 55 of the 1980 Act in relation to a designated scheme, paragraph (a) of subsection (1) (which requires the proportion of the scheme’s outgoings which corresponds to the relevant pension obligations to be determined before the beginning of each financial year or, in the case of the first financial year, as soon as practicable after the passing of that Act) shall be taken to require the proportion mentioned in that paragraph to be determined—
(a) before the beginning of the financial year in question, or
(b) as soon as practicable after the coming into force of the order under sub-paragraph (1) above by virtue of which the scheme in question is a designated scheme,
and paragraph (b) of that subsection shall be construed accordingly.
(8) The power to give a direction under section 57 of the 1980 Act (which provides for certain determinations to be made as if no transfer had taken place and as if no payment representing the pension rights in question had been made) shall be exercisable in any case where the whole or any part of a person’s accrued pension rights under a B.R. pension scheme or a designated scheme are transferred (whether under paragraph 4 above or otherwise) to—
(a) a designated scheme, or
(b) a pension scheme established by the Board,
as it is in the case of any such transfer as is mentioned in that section.
(9) Without prejudice to sub-paragraph (8) above, where in any financial year the whole or any part of a person’s accrued pension rights under a B.R. pension scheme are transferred to a designated scheme, it shall be assumed, for the purposes of any determination of the aggregate amount of the pensions, increases and expenses payable under or incurred in connection with the B.R. pension scheme in that financial year, that the payment of any sum representing those pension rights had not been made.
(10) Without prejudice to section 59(1) of the 1980 Act (which provides that the making of payments under section 52(1) does not discharge certain relevant pension obligations), the making of any payment under section 52(1) of the 1980 Act to the persons administering a designated scheme shall not discharge any relevant pension obligation, so far as it is an obligation to pay pensions or increases of pensions under that or any other designated scheme, or under a B.R. pension scheme, or is an obligation to secure the payment of those pensions or increases.
(11) Without prejudice to section 59(2) of the 1980 Act (power to amend pension scheme for certain purposes), if the persons administering an occupational pension scheme would not otherwise have power to do so, they may amend the scheme by instrument in writing for the purpose of enabling persons to be admitted as members of the scheme on the basis that payments will fall to be made under Part III of the 1980 Act in respect of qualifying pension rights of theirs which are transferred so as to become pension rights under the scheme.
(12) Where the persons administering an occupational pension scheme have power, apart from sub-paragraph (11) above, to amend the scheme for the purpose mentioned in that sub-paragraph, they may exercise that power for that purpose without regard to any limitations on the exercise of the power and without compliance with any procedural provisions applicable to its exercise.
(13) Any reference in Part III of the 1980 Act to a “financial year” shall, in relation to a designated scheme, be taken as a reference—
(a) to such period as—
(i) begins with the transfer of the qualifying pension rights in question, and
(ii) ends with the last day of an accounting year of the scheme,
and is a period of not less than twelve months and less than two years; and
(b) to each successive accounting year of that scheme.
(14) Where any provision of Part III of the 1980 Act requires anything to be done in, or in relation to, the first financial year of a B.R. pension scheme, that provision shall (so far as so requiring) be disregarded in the application of that Part in relation to a designated scheme.
(15) In any case where—
(a) the whole or any part of a person’s accrued pension rights under a B.R. pension scheme are transferred so as to become pension rights under a designated scheme, and
(b) immediately before that transfer takes effect, relevant pension obligations a proportion of which, as determined for the purposes of section 52(1)(a) of the 1980 Act, has not been funded are owed in respect of those pension rights by the Board to the persons administering the pension scheme from which the pension rights are so transferred,
an order under sub-paragraph (1) above may provide for the benefit of that proportion of so much of those relevant pension obligations as are owed in respect of those pension rights to be transferred, so as to become relevant pension obligations owed by the Board to the persons administering the pension scheme to which the pension rights are transferred.
(16) Where the benefit of any relevant pension obligations is transferred by virtue of sub-paragraph (15) above, the persons administering the pension scheme to which the benefit of those obligations is transferred shall have, in relation to the relevant pension obligations the benefit of which is so transferred, all the rights of the persons administering the pension scheme from which the benefit of those obligations is transferred.
(17) In this paragraph—
“the 1980 Act” means the [1980 c. 34.] Transport Act 1980;
“designated scheme” means an occupational pension scheme or, as the case may be, a section of any such scheme, which is designated under sub-paragraph (1) above;
“pension scheme” includes a section of a pension scheme;
“qualifying pension rights” means any pension rights as respects the whole or some part of which there are subsisting relevant pension obligations a proportion of which, as determined for the purposes of section 52(1)(a) of the 1980 Act, has not been funded;
and, subject to that, expressions used in this paragraph and in Part III of the 1980 Act have the same meaning in this paragraph as they have in that Part.
11 (1) Subject to the following provisions of this paragraph, the Secretary of State—
(a) shall give to the trustees of any new scheme which satisfies the conditions in sub-paragraph (3) below, and
(b) may give to the trustees of any new scheme which satisfies the conditions in sub-paragraph (4) below,
a guarantee in respect of their liabilities to make payments in respect of pension rights under the scheme.
(2) This paragraph applies in relation to a section of a new scheme as it applies in relation to a new scheme; and any reference in this paragraph to a new scheme, a closed scheme, a pension scheme or a member shall be construed accordingly.
(3) A new scheme satisfies the conditions in this sub-paragraph if—
(a) all the members of the scheme are persons whose pension rights under the scheme are pension rights which have been transferred, so as to become pension rights under that scheme, pursuant to an order under paragraph 4 above; and
(b) the rules of the scheme prevent any member of the scheme from being a participant in the scheme.
(4) A new scheme satisfies the conditions in this sub-paragraph if—
(a) the scheme is a closed scheme; and
(b) at the date on which the scheme becomes a closed scheme, all the members of the scheme are—
(i) participants in the scheme to whom pension rights under the scheme are accruing by virtue of their employment with a relevant employer; or
(ii) pensioners or deferred pensioners under the scheme whose pension rights under the scheme derive in whole or in part from their, or some other person's, participation in an occupational pension scheme as an employee of a relevant employer.
(5) Classes or descriptions of person may be prescribed whose membership of, or participation in, a new scheme is to be disregarded for the purpose of determining whether the new scheme satisfies the conditions in sub-paragraph (3) or (4) above.
(6) The power to give a guarantee under sub-paragraph (1)(b) above becomes exercisable in the case of any new scheme if the Secretary of State is of the opinion that it is desirable to give such a guarantee for the purpose of ensuring that the trustees of the scheme are, or will be, able to meet their liabilities to make payments in respect of pension rights under the scheme as those liabilities fall to be met.
(7) The Secretary of State shall consider any representations made by the trustees of a new scheme which satisfies the conditions in sub-paragraph (4) above concerning their ability to meet their liabilities to make payments in respect of pension rights under the scheme.
(8) Any guarantee under this paragraph shall be given in such manner, and on such terms and conditions, as the Secretary of State may, after consultation with the trustees of, and the actuary to, the scheme in question, think fit; and, without prejudice to the generality of the foregoing provisions of this sub-paragraph, the terms and conditions on which a guarantee under this paragraph may be given include terms and conditions—
(a) with respect to any matter relating to payment under the guarantee, including—
(i) the circumstances in which payment under the guarantee falls to be made;
(ii) the amounts, or the method of determining the amounts, of any payments that fall to be so made;
(iii) the persons to whom any such payments are to be made;
(b) with respect to any matter relating to the management, affairs or winding up of the scheme, including—
(i) the policy to be followed in relation to the investment of assets held for the purposes of the scheme; and
(ii) the distribution of any surplus which may arise under the scheme; or
(c) requiring or precluding, or otherwise with respect to, amendment of the rules of the scheme;
and the sub-paragraphs of paragraphs (a) and (b) above are without prejudice to the generality of the preceding provisions of the paragraph in question.
(9) Any sums required by the Secretary of State to fulfil a guarantee given under this section shall be paid out of money provided by Parliament.
(10) In this paragraph—
“closed scheme” means a pension scheme—
to which no new members are to be admitted; but
under which pensions and other benefits continue to be provided;
“deferred pensioner”, in the case of any pension scheme, means a person who has pension rights under the scheme but who (so far as relating to those pension rights) is neither a participant in the scheme nor a pensioner under the scheme;
“relevant employer” means—
the Board;
a wholly owned subsidiary of the Board; or
a publicly owned railway company, other than a company which is wholly owned by the Franchising Director.
12 If it appears to the Secretary of State necessary or expedient to do so, in consequence of any provision made by order under this Schedule, he may by provision made in the same manner—
(a) repeal or amend, or modify the operation of, any private or local Act of Parliament; or
(b) revoke or amend, or modify the operation of, any statutory instrument (whether local or general).
13 (1) A statutory instrument containing an order under this Schedule, other than an order under paragraph 11 above, shall not be made unless a draft of the instrument has been laid before and approved by resolution of each House of Parliament.
(2) At or before the time when a draft of a statutory instrument containing an order under paragraph 3 or 4 above is laid before each House of Parliament pursuant to sub-paragraph (1) above, the Secretary of State shall also lay before each House of Parliament a copy of any comments on the order in question—
(a) which have been made in writing to the Secretary of State by the trustees mentioned in paragraph 3(4) or, as the case may be, paragraph 4(5) above;
(b) which are designated by those trustees as comments which they wish the Secretary of State to consider as comments on that order; and
(c) which have been received by the Secretary of State before the expiration of such period as has been notified by him to those trustees as being the consultation period in relation to the order in question;
but this sub-paragraph is without prejudice to the validity of the order in question.
(3) If, apart from the provisions of this sub-paragraph, the draft of an instrument containing an order under this Schedule would be treated for the purposes of the Standing Orders of either House of Parliament as a hybrid instrument, it shall proceed in that House as if it were not such an instrument.
14 In this Schedule, and in any amendment made by this Schedule to any other enactment,—
(a) any reference to section 1 of the [1993 c. 48.] Pension Schemes Act 1993 shall, until the coming into force of that section, be construed as a reference to section 66(1) of the [1975 c. 60.] Social Security Pensions Act 1975;
(b) any reference to Part III of the Pension Schemes Act 1993 shall, until the coming into force of that Part, be construed as a reference to Part III of the [1975 c. 60.] Social Security Pensions Act 1975; and
(c) any reference to Part III of the [1993 c. 49.] Pension Schemes (Northern Ireland) Act 1993 shall, until the coming into force of that Part, be construed as a reference to Part IV of the [S.I. 1975/1503 (N.I. 15).] Social Security Pensions (Northern Ireland) Order 1975.
Railways Act 1993