The Harwich Haven Authority (Pension Fund) Harbour Revision Order 2011
The Marine Management Organisation, being satisfied as mentioned in section 14(2)(b) of the Act and in exercise of the powers conferred by section 14(1), (2A) and (3), makes the following Order.
Citation and commencement1.
(1)
This Order may be cited as the Harwich Haven Authority (Pension Fund) Harbour Revision Order 2011 and shall come into force on 1st March 2011.
(2)
Pensions2.
“70.
Without prejudice to the powers conferred on the Board by section 69 (gratuities, etc.) of this Act, the Board may establish, continue and maintain one or more pension funds which shall be regulated by such rules as are from time to time made by the Board or consented to by the Board in accordance with those rules, and shall from time to time contribute to any such fund, out of the revenues of the Board, such sums as the Board is required to contribute in accordance with those rules.”.
Signed by authority of the Marine Management Organisation
This Order substitutes a new section 70 of the Harwich Harbour Act 1974 (1974 c.i). The original section provided for the Harwich Haven Authority to continue and maintain a contributory pensions fund.
The new section empowers the Authority to establish, continue and maintain one or more pension funds. The section does not specify that funds be contributory or non-contributory.
Pension funds are to be regulated by rules made or consented to by the Authority. The new section requires the Authority from time to time to contribute to such pension funds out of its revenues such sums as it is required to contribute under those rules.
A full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.