Article 3 Termination of certain investment powers

Subject to paragraph (2) below, the power of the Board or other persons administering a pension fund to which this Order applies to apply to the general purposes of the Board's undertaking or to invest by way of deposit with the Board moneys which belong to any such pension fund but which have not previously been so applied or invested shall cease on the date on which this Order comes into operation and no further moneys belonging to any such fund shall be so applied or invested by the Board or by such persons on or after that date.

Nothing in paragraph (1) above shall affect the powers of the persons administering the pension fund which is specified in Schedule 2 to this Order to make or vary investments, or the powers of the persons administering any other pension fund to which this Order applies to make deposits in a railway savings bank mentioned in section 65 of the Transport Act 1962.