Article 5

Where the transport pension scheme in which the transferring member was participating is a Male Wages Grades scheme and the provisions of paragraph (2) of this Article do not apply, a sum representing the value of the transferring member's pension rights under that scheme shall be determined and the nationalised transport body administering that scheme shall, after deducting therefrom such amount as may be necessary to cover the cost actually incurred by that body in determining and paying the same, pay that sum to the persons administering the harbour pension scheme in which the transferring member becomes entitled to participate, to be held by them subject to the provisions of that scheme to the intent that the transferring member may become entitled to such benefit thereunder as may be determined having regard to the amount paid as aforesaid.

If the Male Wages Grades scheme in which the transferring member was participating immediately before he ceased to be in the employment of a nationalised transport body is then a funded scheme, the provisions of Article 4 of this Order shall have effect instead of the provisions of paragraph (1) of this Article.