Regulation 11 Total Winding Up of North Scheme or South Scheme

(1)

If any action is taken under the rules of the North Scheme or the South Scheme to cause the total winding up of that Scheme, each employer who–

(a)

participates in that Scheme; and

(b)

employs a protected employee who participates in that Scheme;

shall forthwith notify each of his protected employees of the alternative arrangements he proposes to make and as soon as practicable provide an alternative scheme.

(2)

Any employer who has provided an alternative scheme for the purpose of paragraph (1) may at any time thereafter, and shall upon the total winding up of the Scheme, enable all protected employees in his employment to participate in the alternative scheme which he has provided.

(3)

For the purpose of this regulation the future pension rights to be provided by the alternative scheme of each employer for his protected employees shall be no worse than the future pension rights provided for those employees under the North Scheme or, as the case may be, the South Scheme immediately prior to the date upon which they cease to participate in that Scheme.