Regulation 5 Transfer of functions

(1)

Immediately prior to the transfer date–

(a)

each of the Functions^f1 of the Council under the Pension Scheme shall be transferred to the Co-ordinator in accordance with the amendments to the Pension Scheme made by paragraph (2); and

(b)

the Council shall be discharged from its obligations in respect of the future exercise and performance of the Functions.

(2)

Immediately prior to the transfer date, for the expression “the Council” wherever the same occurs in the Pension Scheme (including any provision of a Former Scheme^f2 incorporated by reference into the Pension Scheme) there shall be substituted the expression “the Co-ordinator”.

Annotations

Footnotes

f1: Definitions of these expressions are inserted into clause 46 of the Pension Scheme by these Regulations (see Part I of the Schedule).
f2: These words and phrases are defined in clause 46 of the Pension Scheme.