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Financial Guidance and Claims Act 2018

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Power to make transfer schemes

1(1)The Secretary of State may make one or more schemes providing for the transfer of designated property, rights and liabilities of the Secretary of State and the Pensions Advisory Service Limited to the single financial guidance body.

(2)The Secretary of State may make one or more schemes providing for the transfer of designated property, rights and liabilities of the consumer financial education body to the single financial guidance body and the devolved authorities.

(3)The rights and liabilities that may be transferred by a scheme include rights and liabilities under a contract of employment.

(4)For that purpose—

(a)an individual who holds employment in the civil service of the State is to be treated as employed by virtue of a contract of employment; and

(b)the terms on which the individual holds that employment are to be regarded as constituting the terms of that contract.

(5)In this Schedule—

  • “designated” means specified in, or determined in accordance with, the scheme;

  • “property” includes interests of any description.

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