# The British Railways Board (Alteration of Pension Schemes) Order 1973, Article 6: Redemption of capital of deposits


(1) The capital of the moneys referred to in Article 4 above shall be repaid by the Board to the fund to which they belong by five annual instalments on 2nd January in each of the years 1974 to 1978 (inclusive).
(2) The instalments referred to in paragraph (1) above shall, so far as practicable, be of equal amounts, but if the total capital repayable to a particular fund has not been finally determined by 2nd January 1974, an appropriate adjustment shall be made in one or other of the succeeding instalments.
(3) Payment of the instalments referred to in paragraph (1) above shall be made at the same time to each of the funds concerned on the basis of that fund's entitlement on the date of the coming into operation of this Order to the capital of the moneys which have been applied or invested in exercise of a power referred to in Article 3(1) above and which on that date remain so applied or invested.
(4) Moneys of a pension fund repaid by the Board under the provisions of this Article shall be invested by the persons administering the fund in investments which they have power to make in relation to the fund, or shall otherwise be applied in accordance with the terms of the fund.

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Source: https://www.legislation.gov.uk/uksi/1973/2019/article/6 (the official version)
Page: https://openlegislation.uk/british-railways-board-alteration-of-pension-schemes-order-1973/article-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.