Transport for London Act 2016

6 Arrangements for risk mitigation

(1) Section 49 of the Transport for London Act 2008 (power to make arrangements for risk mitigation) shall be amended as follows.

(2) In subsection (3)—

(a) in paragraph (c), leave out “any index reflecting”;

(b) in paragraph (d), after “TfL body” insert “or by which a TfL body is affected or to which it is otherwise exposed under a relevant agreement” and, at the end of that paragraph, leave out “or”; and

(c) after paragraph (e), insert “or

(f) any index reflecting any of the matters referred to in paragraphs (a) to (e).”

(3) After subsection (9) insert—

“(9A) Subsection (9B) applies where a TfL body incurs an actual or prospective liability with respect to any pension scheme or arrangement.

(9B) The powers of subsection (2) may be exercised by a qualifying TfL subsidiary for the purpose of limiting the extent to which the TfL body will be affected by changes in any of the matters specified in subsection (3) notwithstanding that the exercise of the powers may also limit the extent to which a person other than a TfL body will be affected by those changes.”

(4) After subsection (10)(h) insert—

“(ha) “relevant agreement” means an agreement entered into by a TfL body under either section 156(2) or (3) of the 1999 Act or section 169 of the 1999 Act;”.