The Electricity (Northern Ireland) Order 1992

Interpretation

1.—(1) In this Schedule—

• “employer”, in relation to a person employed by a company which is a wholly-owned subsidiary of another company, includes that other company;

• “existing employee” means any person who, immediately before the transfer date, is employed by Northern Ireland Electricity;

• “former participant” means any person who, immediately before the transfer date, is not a participant in the scheme but has pension rights under the scheme by virtue of his having been such a participant;

• “pension”, in relation to any person, means a pension of any kind payable to or in respect of him, and includes a lump sum, allowance or gratuity so payable and a return of contributions, with or without interest or any other addition;

• “pension rights”, in relation to any person, includes—

  (a)

  all forms of right to or eligibility for the present or future payment of a pension to or in respect of him; and

  (b)

  any expectation of the accruer of a pension to or in respect of him;

  and includes a right of allocation in respect of the present or future payment of a pension;

• “the relevant statutory provisions” means Chapter I of Part XIV of the [1988 c. 1] Income and Corporation Taxes Act 1988(retirement benefit schemes) and Part IV of the [1975 NI 15] Social Security Pensions (Northern Ireland) Order 1975(contracting-out);

• “relevant scheme” has the meaning given by paragraph 4(1);

• “the scheme” means the Northern Ireland Electricity Superannuation Scheme;

• “wholly-owned subsidiary” has the same meaning as in the [1986 NI 6] Companies (Northern Ireland) Order 1986.

(2) For the purposes of this Schedule, a company is wholly owned by one or more other companies if it has no members except—

(a) that other or those others and its or their nominees; and

(b) wholly-owned subsidiaries of that other or those others and their nominees.

(3) Subject to sub-paragraph (1), expressions used in this Schedule which are also used in Part II or III have the same meanings as in that Part.