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