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Article 3 Transfer of pension rights

Original text. Later amendments are not shown.

On the transfer date—

(a)

each transferring member shall—

(i)

become a member of the transferee scheme; and

(ii)

cease to be a member of each transferor scheme of which he was a member immediately before the transfer date; and

(b)

all of the pension rights of the transferring members under the transferor schemes shall be transferred so as to become pension rights under the transferee scheme.