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7.—(1) This regulation applies where—
(a)regulation 3 applies, or
(b)an election is made under regulation 4(3)(a)(ii), or
(c)a person entitled to make an election under regulation 4(4) does not do so.
(2) Where this regulation applies in relation to a person, he and his new employing body or as the case may be the National Water Council shall be deemed to have had from 1st April 1974 the rights and liabilities they would have had on the relevant assumptions in paragraph (3), (4) or (5) as the case may be.
(3) Where the previous employing body was the Conservators of the River Thames (“the Conservators”) or the Lee Conservancy Catchment Board (“the Board”), it is to be assumed—
(a)that any scheme that applied in relation to the person immediately before 1st April 1974 by virtue of section 20 of the Superannuation Act 1972 has continued so to apply, and
(b)that references in that section and in the scheme to the Conservators or, as the case may be, the Board became on 1st April 1974 references to the new employing body, and
(c)where the previous employing body was the Conservators, that any undertaking given by them as to the payment of a gratuity was given by the new employing body.
(4) Where the previous employing body was the Metropolitan Water Board, it is to be assumed—
(a)that the Metropolitan Water Board scheme has continued after 31st March 1974 to have effect in relation to the person, and
(b)that references in that scheme to payment to or receipt from the Fund became on 1st April 1974 references to payment to or receipt from the superannuation fund maintained under the principal regulations by the National Water Council.
(5) Where the previous employing body was the Thanet Water Board, it is to be assumed—
(a)that any rights retained by virtue of an election under section 154(5) of the Kent Water Act 1955 have continued to be exercisable after 31st March 1974, and
(b)that any corresponding obligation imposed on the Thanet Water Board by section 154(2) of that Act became on 1st April 1974 an obligation of the new employing body.
(6) Where paragraph (1)(c) applies, the reference in paragraph (2) to the new employing body is to be construed as a reference to the Thames Water Authority.
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