The Transferred Undertakings (Pensions of Employees) (No. 2) Regulations 1952

10.—(1) Every exclusive insurance scheme and every statutory provision relating thereto and all trust deeds, rules and other instruments made for the purposes thereof shall have effect as from the date of the relevant event, as though any reference therein (however worded and whether express or implied) to employment by the transferor of an undertaking or part of an undertaking were, as respects employment as from the date of the relevant event, a reference to employment by the Commission, and the rights and obligations relating to participation in the scheme and in any fund held for the purposes thereof and to the payment of premiums or contributions by employer and employee shall be construed accordingly.

(2) Subject to the preceding provisions of this Regulation, every exclusive insurance scheme and every statutory provision relating thereto and all trust deeds, rules and other instruments made for the purposes thereof shall have effect as from the date of the coming into operation of these Regulations as though, where the transferor of an undertaking or part of an undertaking is a party thereto, the Commission had been a party thereto, and any reference therein (however worded and whether express or implied) to the transferor were, as respects anything falling to be done on or after the date of the coming into operation of these Regulations, a reference to the Commission, and any reference therein (however worded and whether express or implied) to any director, officer, servant, agent of, or person appointed by the transferor and concerned with the administration of the scheme or the fund held for the purposes thereof were, as respects anything falling to be done on or after the date of the coming into operation of these Regulations, a reference to such person as the Commission may appoint for the administration or participation in the administration of the scheme or fund held for the purposes thereof; and where the fund held for the purposes of the scheme was so held by the transferor with or without any other person, all necessary steps shall forthwith be taken on the coming into operation of these Regulations to secure that the fund shall thereafter be so held by the Commission in place of the transferor and, where the fund was held by any person (being a director, officer, servant, agent of, or person appointed by, the transferor) with or without the transferor or any other person, similar steps shall forthwith be taken on the coming into operation of these Regulations to secure that the fund shall thereafter be so held by such person as the Commission may appoint for the purpose in place of the first mentioned person.