{
  "url": "https://openlegislation.uk/electricity-supply-pension-scheme-transfer-date-amendments-regulations-1990/schedule/paragraph-3",
  "json_url": "https://openlegislation.uk/electricity-supply-pension-scheme-transfer-date-amendments-regulations-1990/schedule/paragraph-3.json",
  "legislation": "uksi/1990/318",
  "legislation_title": "The Electricity Supply Pension Scheme (Transfer Date Amendments) Regulations 1990",
  "legislation_url": "https://openlegislation.uk/electricity-supply-pension-scheme-transfer-date-amendments-regulations-1990",
  "path": "schedule/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": null,
  "text": "The following clause shall be inserted immediately following Clause 2A, as Clause 2B:\n“Participation of New Employers\n2B (1) If any Original Principal Employer shall amalgamate with any other Original Principal Employer (whether or not such amalgamation involves the winding up of either or both of such Employers) then, notwithstanding the provisions of Clause 42(1), the Co-ordinator and such Employers and/or their successor, if any, shall make such arrangements or enter into such agreements (not being arrangements or agreements incompatible with the manner in which the Fund is invested or of such a kind as to prejudice Approval) as they shall think fit for the continuance of the Scheme or any part thereof and the transfer of the obligations and liabilities of such Employers under the Scheme.\n(2) If, pursuant to the provisions of paragraph (1), any company shall be obliged to become a Principal Employer, such company shall forthwith enter into a deed with the Co-ordinator whereby it shall undertake to participate in the Scheme and to comply with and be bound by the terms of the Scheme from time to time in effect and to exercise the Functions thereof. The Co-ordinator shall thereupon give notice of such deed to the Trustees.\n(3) Subject to paragraph (1) and subject in each case to the approval of the Board of Inland Revenue and the consent of the Co-ordinator, (and, in the event of the winding up of any Employer for the purpose of reconstruction or amalgamation, notwithstanding the provisions of Clause 42(1)) any company or firm may become a Principal Employer and any Financial Group Company may become a Participating Subsidiary and (in each case) participate in the Scheme upon such terms and subject to such conditions as the Co-ordinator may determine. Such company or firm shall forthwith enter into a deed with the Co-ordinator and with the Principal Employer whose Participating Subsidiary it is to be (if appropriate) whereby it shall undertake to participate in the Scheme as a Principal Employer or a Participating Subsidiary (as the case may be) and to comply with and be bound by its terms from time to time in effect and, in the case of a new Principal Employer, to exercise the Functions thereof. The Co-ordinator shall thereupon give notice of such deed to the Trustees.\n(4) Subject in each case to the approval of the Board of Inland Revenue and the consent of the Principal Employer, any subsidiary of a Principal Employer may become its Participating Subsidiary and participate in the Scheme upon such terms and subject to such conditions (consistent with the terms and conditions of participation in the Scheme of such Principal Employer) as such Principal Employer may determine. In such event such subsidiary shall forthwith enter into a deed with such Principal Employer agreeing to participate in the Scheme as its Participating Subsidiary upon such terms and subject to such conditions as so determined and to comply with and be bound by the terms thereof from time to time in effect. Such Principal Employer shall thereupon give notice of such deed to the Co-ordinator and to the Trustees.\n(5) With effect from the Transfer Date, each of the Original Principal Employers shall apply to become a member of the Co-ordinator and upon its participation in the Scheme each company or firm that becomes a Principal Employer shall apply to become a member of the Co-ordinator, in each case in accordance with the terms of the memorandum and articles of association of the Co-ordinator. Each Original Principal Employer and each company or firm that becomes a Principal Employer shall by virtue of this paragraph be deemed to have appointed and authorised the Secretary to be its agent for the purpose of making such application.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1990/318/schedule/paragraph/3",
    "retrieved_at": "2026-10-29T15:27:22.483102+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}