PART 6Miscellaneous

Guarantee of pension liabilities under Telecommunications Act 1984

116Regulations under section 115

(1)

The power to make regulations under section 115 is exercisable by statutory instrument.

(2)

That power is exercisable by the Secretary of State only with the consent of the Treasury.

(3)

A statutory instrument containing regulations under that section may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.

(4)

Before making regulations under that section the Secretary of State must consult—

(a)

the Pensions Regulator;

(b)

BT plc;

(c)

the trustees of the BT Pensions Scheme;

(d)

any transferee or successor to which the regulations apply;

(e)

any other persons the Secretary of State considers it appropriate to consult.