London Regional Transport Act 1984

46 Schemes for transfers between London Regional Transport group and Railways Board group

(1) London Regional Transport and the Railways Board, acting jointly, may make schemes for the transfer, between any member of the London Regional Transport group and any member of the Railways Board group, of—

(a) any specified property, rights or liabilities ; or

(b) all property, rights and liabilities comprised in a specified part of the transferor's undertaking ;

and any such scheme may contain such supplementary, incidental and consequential provisions as may appear to London Regional Transport and the Railways Board to be necessary or expedient.

(2) A scheme under this section shall not come into force until it has been approved by the Secretary of State or until such date as the Secretary of State may, in giving his approval, specify; and (subject to subsection (3) below) the Secretary of State may approve a scheme either without modifications or with such modifications as, after consultation with London Regional Transport and with the Railways Board, he thinks fit.

(3) Without prejudice to his powers under section 47 of this Act, the Secretary of State shall not approve a scheme under this section which makes provision for a transfer of any property, rights or liabilities which it appears to him would materially prejudice the proper discharge by London Regional Transport or the Railways Board of their respective functions.

(4) On the coming into force of a scheme under this section the property, rights and liabilities in question shall (subject to subsection (6) below) be transferred and vest in accordance with the scheme.

(5) Subject to any order under section 74 of the 1962 Act (power of Secretary of State to make orders about pensions in the nationalised transport industry) which takes effect on or at any time after the transfer date for the purposes of any transfer under subsection (4) above, any person who, on that date—

(a) ceases to be employed by any member of one or other of the London Regional Transport group and the Railways Board group and becomes employed by a member of the other group ; or

(b) is employed by a company which immediately before that date was a subsidiary of London Regional Transport or (as the case may be) of the Railways Board but on that date becomes a subsidiary of the other of those authorities;

shall not in consequence cease to be eligible to participate in any pension scheme in which he was a participant immediately before that transfer date.

(6) Subject to subsection (7) below, Schedule 4 to the 1968 Act (supplementary provisions as to certain transfers of property, rights and liabilities) shall apply to any transfer under subsection (4) above; and subsection (4) above shall have effect subject to the provisions of that Schedule.

(7) In Schedule 4 as it applies by virtue of subsection (6) above—

(a) any reference to a transfer by or a vesting by virtue of that Act shall be read as a reference to a transfer by or vesting by virtue of the scheme in question; and

(b) the reference in paragraph 13(5) to the relevant provisions of that Act shall be read as including a reference to the relevant provisions of this Act.

(8) In this section and section 47 of this Act, references to the Railways Board group are references to the Railways Board and their subsidiaries.