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SCHEDULES

SCHEDULE 8Pensions

Part 1Preliminary

Interpretation

1(1)In this Schedule—

(2)References in this Schedule to the modification of a pension scheme include references to the modification of any one or more of the following—

(a)the trust deed of the scheme, if there is one;

(b)rules of the scheme; or

(c)any other instrument relating to the constitution, management or operation of the scheme.

(3)For the purposes of this Schedule a body corporate is wholly-owned by the Crown if it is a company limited by shares and that company is one in which—

(a)a person specified in sub-paragraph (4) holds all the shares; or

(b)two or more persons so specified, taken together, hold all the shares.

(4)Those persons are—

(a)the Treasury;

(b)a Minister of the Crown;

(c)another company which is wholly-owned by the Crown; or

(d)a nominee of a person falling within paragraphs (a) to (c).

(5)A reference in this Schedule to a nuclear transfer scheme includes a reference to a modification agreement (within the meaning of Schedule 5).

(6)References in this Schedule to a person being eligible to become a participant in a pension scheme if he fulfils a condition—

(a)do not include references to his being eligible to become a participant in a scheme if a different person becomes his employer or if his employer becomes the subsidiary of a particular body corporate; but

(b)do include references, in the case of a person whose participation in the scheme is temporarily suspended (whether by reason of a secondment or loan of his service or otherwise), to fulfilment of the conditions that would bring the suspension to an end.

(7)In this paragraph “company” has the same meaning as in the Companies Act 1985 (c. 6).