The British Transport (Alteration of Pension Schemes) (Amendment) Order 1988

Statutory Instruments

1988 No. 962

TRANSPORT

PENSIONS AND COMPENSATION

The British Transport (Alteration of Pension Schemes) (Amendment) Order 1988

Made

31st May 1988

Laid before Parliament

8th June 1988

Coming into force

29th June 1988

The Secretary of State for Transport, in exercise of the powers conferred by section 74 of the Transport Act 1962(1) and now vested in him(2) and of all other enabling powers, hereby makes the following Order:—

1.  This Order may be cited as the British Transport (Alteration of Pension Schemes) (Amendment) Order 1988 and shall come into force on 29th June 1988.

2.  The British Transport (Alteration of Pension Schemes) Order 1969(3) shall be amended so that—

(a) for paragraph 8 of the Schedule thereto there shall be substituted the following paragraph—

“8.   In any units, or other shares of the investments subject to the trusts of an authorised unit trust scheme within the meaning of the Financial Services Act 1986(b)”; and

(b) for footnote (b) to that Schedule there shall be substituted “1986 c. 60”.

Signed by authority of the Secretary of State

David Mitchell

Minister of State,

Department of Transport

31st May 1988

Explanatory Note

(This note is not part of the Order)

This Order amends the British Transport (Alteration of Pension Schemes) Order 1969 to relate the powers of investment in respect of the London and North Eastern Railway Superannuation Fund in unit trusts to the relevant provisions of the Financial Services Act 1986.

(1)

1962 c. 46.

(2)

S.I. 1970/1681, 1979/571 and 1981/238.

(3)

S.I. 1969/1858.