7. Where –
(a)immediately before the transfer date it was the prevailing practice of a water authority to exercise so as to secure the payment of, or of increased, pensions any discretionary power exercisable by them by virtue of any provision mentioned in Schedule 1 or 2 hereto or under any scheme referred to in regulation 6(2); and
(b)that or any corresponding power becomes exercisable by the National Rivers Authority or the successor company on or after the transfer date,
the Authority or the company, as the case may be, shall exercise the power in relation to any liability which falls to be discharged by it by virtue of regulation 4 or 5 in a way which is not less beneficial than the general character of that practice.