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The Electricity Supply Pension Scheme (Transfer Date Amendments) Regulations 1990
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- 1990 No. 318
- THE SCHEDULE
- PART II
- Regulation 1
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1. Clause 2 of the Scheme shall be deleted and the following clause substituted therefor:
“Nature of the Scheme
2.—(1) The Scheme shall be a contributory scheme providing Benefits for and in respect of Members and Former Members, in accordance with its terms from time to time in effect.
(2) The Group Assets in respect of each Group shall be applied solely for the discharge of the Group Liabilities in respect of such Group, to the effect that no Principal Employer or Participating Subsidiary in any Group nor the Group Assets in respect of any Group shall be liable for any obligation or be entitled to or receive any benefit arising out of or pursuant to any deficiency or surplus respectively in relation to the Group Liabilities in respect of any other Group, either prior to or pursuant to the discontinuance of the Scheme.
(3) The provisions of paragraph (2) shall be without prejudice to any arrangements for the transfer of Group Assets made pursuant to or in consequence of the merging or subdivision of any Group or Groups or the withdrawal from any Group of any Employer or any transfer of Group Assets in respect of or in relation to any Member or Former Member.”
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