Paragraph 1

“employer”, in relation to a person employed by a company which is a wholly-owned subsidiary of another company, includes that other company;

“existing employee” means any person who, immediately before the transfer date, is employed by Northern Ireland Electricity;

“former participant” means any person who, immediately before the transfer date, is not a participant in the scheme but has pension rights under the scheme by virtue of his having been such a participant;

“pension”, in relation to any person, means a pension of any kind payable to or in respect of him, and includes a lump sum, allowance or gratuity so payable and a return of contributions, with or without interest or any other addition;

“pension rights”, in relation to any person, includes—

1. (a)

   all forms of right to or eligibility for the present or future payment of a pension to or in respect of him; and

2. (b)

   any expectation of the accruer of a pension to or in respect of him;

and includes a right of allocation in respect of the present or future payment of a pension;

“the relevant statutory provisions” means Chapter I of Part XIV of the Income and Corporation Taxes Act 1988F1 (retirement benefit schemes) and Part IV of the Social Security Pensions (Northern Ireland) Order 1975F2 (contracting-out);

“relevant scheme” has the meaning given by paragraph 4(1);

“the scheme” means the Northern Ireland Electricity Superannuation Scheme;

“wholly-owned subsidiary” has the same meaning as in F3the Companies Acts (see section 1159 of the Companies Act 2006).