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The Coal Industry Nationalisation (Superannuation) Regulations 1950

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1.  The National Coal Board (in these regulations referred to as “the Board”) shall have power to pay out of their funds, or to provide for the payment of, pensions, gratuities and other like benefits for all or any of the purposes specified in paragraphs (a) and (b) of subsection (1) of section thirty-seven of the Act of 1946 as amended by section four of the Act of 1949 (1) in such manner (including, subject to the Minister's approval, the establishment of schemes and other arrangements) as they may think fit; and in particular (but without prejudice to the generality of the foregoing provisions) the Board shall have power—

(a)to administer schemes and other arrangements established with the Minister's approval; and for the purposes thereof or in connection there-with to establish and administer funds, to take out, acquire and maintain policies of insurance, and to execute bonds, indemnities and other similar instruments for securing the aforesaid benefits; and

(b)to participate in and to continue existing schemes and other arrangements and make payments to or for the purposes of or in connection with the same, including payments under policies of insurance, bonds, indemnities and other similar instruments for securing benefits thereunder.

(1)

For significance of underlining and side-lining, see explanatory note on p. 366.

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