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The Refractories Industries (Silicosis) and Sandstone Industry (Silicosis) Schemes (Transfer of Beneficiaries) Scheme 1977

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Refund of Assets of the Silicosis Schemes

6.—(1) On the coming into force of paragraph 1 of Schedule 1 to the Social Security (Miscellaneous Provisions) Act 1977 (transfer of assets of compensation funds established under the Silicosis Schemes) or as soon thereafter as may be practicable, the Secretary of State shall, after deduction of the amounts specified in the next succeeding paragraph, make payment out of the National Insurance Fund of a sum of money equal to the value of all such money and securities as have been transferred to that Fund under that paragraph—

(a)in so far as the money and securities were transferred from the general compensation fund established under the Refractories Industries (Silicosis) Scheme 1931, to that general compensation fund;

(b)in so far as the money and securities were transferred from the general compensation fund established under the Sandstone Industry (Silicosis) Scheme 1931, to that general compensation fund.

(2) The amounts referred to in the last foregoing paragraph shall be such amounts, in relation to the aforementioned schemes severally, as

(a)the Secretary of State considers reasonable for—

(i)the payment of all liabilities incurred by or in connection with the aforementioned schemes before the date on which they are revoked by the Social Security (Miscellaneous Provisions) Act 1977 and not paid by that date; and

(ii)the payment of all expenses incurred in connection with the said revocation or which are incidental to or consequential upon that revocation or which are incurred in connection with the transfer of the aforementioned money and securities; and

(b)the Government Actuary certifies as reasonable for the cost, from the date of the aforementioned revocation of—

(i)the future administration of benefit in relation to the former beneficiaries of the Silicosis Schemes; and

(ii)the payment of benefit to the aforementioned beneficiaries at the rate or rates to which they would have been entitled under those schemes if the said revocation had not taken place.

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