2.—(1) This Order shall have effect as respects every existing scheme, that is to say, every pension scheme which relates in whole or in part to the provision of pensions in respect of service rendered in the employment of the Commission or of a subsidiary of the Commission or in the employment of a nationalised transport body and is either—
(a)a pension scheme in relation to which the rights, liabilities and functions of the Commission were transferred on the vesting date to a Board or to the Holding Company by the British Transport Reorganisation (Pensions of Employees) (No. 3) Order 1962, or
(b)an arrangement in relation to which the responsibility for making payments was placed on a Board or the Holding Company by the Scheme made by the Commission under the British Transport Reorganisation (Pensions of Employees) (No. 2) Order 1962.
(2) Every existing scheme shall, subject to the provisions of paragraph (3) of this Article, be construed and have effect as if the provisions of this Order were terms of the scheme, any other term thereof, whether express or implied, to the contrary notwithstanding, and each nationalised transport body shall, for the purposes of giving effect to this Order, be bound by the terms of every such scheme.
(3) The rights to continue to participate in, and to re-enter, an existing scheme given by this Order shall be additional to any similar rights subsisting under the terms of that scheme apart from the provisions of this Order and nothing in this Order shall derogate from such similar rights where they subsist.