2.1 The notional share of the assets of the Scheme attributable to HIAL Members at the Effective Date (the HIAL Fund) will be determined in accordance with the terms of the letter between Mr L W Priestley on behalf of the Trustees of the Scheme and Mr H M Lawson of HIAL dated 1 April 1995 and countersigned by Sir Christopher Chataway for the Civil Aviation Authority and Mr S J Ainsworth for Bacon & Woodrow.
The market value of the HIAL Fund will then be deducted from the total market value of the assets of the Scheme at the Effective Date prior to the allocation of the remaining assets of the Scheme between the CAA and NATS Sections. Following such allocation, the HIAL Fund will form part of the assets of the CAA Section.