The Electricity Supply Pension Scheme (Transfer Date Amendments) Regulations 1990

Regulation 4

PART I AMENDMENTS MADE WITH EFFECT FROM 30th MARCH 1990

In Clause 46, the following definitions of terms shall be inserted in alphabetical sequence and the existing definitions (if any) of the like terms shall be deleted:–

• ““Co-ordinator” means:

  (i)

  in respect of any period prior to the Transfer Date, the Council;

  (ii)

  subject to sub-paragraph (iii), in respect of any period on or after the Transfer Date, Electricity Pensions Limited (registered number 2416242); and

  (iii)

  in respect of any period commencing on or after the effective date of any transfer of Functions pursuant to paragraph (2) of Clause 2A, the person referred to therein to which the responsibility for the exercise and performance of such Functions shall have been transferred;

• “the Electricity Act” means the Electricity Act 1989;

• “Employer” means a Principal Employer, a Participating Subsidiary and (in relation to any period prior to the Transfer Date where the context so requires) a Board;

• “Functions” means prior to the Transfer Date the fiduciary and other powers and duties of the Council under the Scheme and on or after the Transfer Date the fiduciary and other powers and duties of the Co-ordinator and the Principal Employers under the Scheme, other than the duty to contribute to the Fund;

• “Group” means a group of Employers consisting of one Principal Employer together with its Participating Subsidiaries from time to time (if any), which group of Employers is treated as a separate entity for the purpose of the determination of Group Assets and Group Liabilities;

• “Group Assets” means, in relation to a Group, the proportion or part of the Fund in respect of or relating to the Members and Former Members associated with such Group;

• “Group Liabilities” means, in relation to a Group, the liabilities of the Scheme in respect of or relating to the Members and Former Members associated with such Group;

• “Members and Former Members associated with a Group” means:

  (i)

  the Members and Former Members in respect of or in relation to whom the Employers of that Group shall have liability for contributions or deficiencies under the Scheme, whether pursuant to the Electricity Act or otherwise (save in respect of those whom or in relation to whom such liability arises solely by virtue of the Electricity (Protected Persons) Pension Regulations 1990); and

  (ii)

  the Members and Former Members who from time to time are, or who immediately prior to the date they last ceased to be in Service were, Employees of one of the Employers in such Group;

  and cognate expressions, including but not limited to “Members and Former Members associated with any Group”, “Members, Beneficiaries and Dependants associated with such Group”, “Members associated with a Group” and “Protected Members associated with such Group” shall be construed accordingly;

• “Original Principal Employer” means each of the companies nominated for the purposes of Section 65 or 66 of the Electricity Act;

• “Participating Subsidiary” means an Employer which is participating in the Scheme and is not the Principal Employer of its Group;

• “Principal Employer” means an Employer which from time to time is participating in the Scheme with responsibility for the exercise and performance of the Functions in respect of its Group, including with effect from the Transfer Date each of the Original Principal Employers;

• “Transfer Date” means the transfer date appointed by the Secretary of State pursuant to Section 65(1) of the Electricity Act;”.