The Railways Pension Scheme Order 1994

When Participation Ceases

10A  Other than as provided under the Railway Pensions (Protection and Designation) Order 1994 a Participating Employer may cease to participate in a Section by giving not less than 3 months' written notice to the Trustee and to the Pensions Committee. The Trustee and the Pensions Committee may in their discretion accept shorter notice if they consider, exceptionally, that it is appropriate.

The Trustee shall by 3 months' written notice require a Participating Employer to cease participating on any date if its continued participation would prejudice Revenue Approval. With the consent of the Inland Revenue the Trustee may permit the continued participation of a Participating Employer in a Section where the Participating Employer ceases to be associated with the Designated Employer, for such period and on such terms as the Trustee determines. Other than as provided under The Railway Pensions (Protection and Designation) Order 1994(1) the Trustee may by 3 months' written notice require a Participating Employer to cease participation if it is in liquidation or if a railways administration order (as defined in section 59 of the Railways Act 1993) has been made in respect of it or if a Participating Employer is in default of its obligations under the Pension Trust and Rules and has not taken such steps as the Trustee has required to remedy the default.

(1)

S.I. 1994/1432.