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Railways and Transport Safety Act 2003

Section 73: transitional and incidental provision

102.Section 73 contains powers to make transitional provisions, including to a relevant pension scheme to ensure continuity following the establishment of the Authority. For example, subsection (3)(g) would enable modifications to be made to the procedural or structural arrangements of staff pension schemes (excluding benefit/contribution/funding structures) as a consequence of the new relationship between the Authority and Secretary of State. Subsection (3)(f) would enable existing enactments about pension schemes to have immediate effect, e.g. to apply the provisions of Section 16 of the 1995 Pensions Act covering pension members’ rights to select trustees.

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