Paragraph 6 I1

(1)

The Secretary of State may direct the UKAEA to make such modifications of a UKAEA pension scheme as may be specified in the direction for the purpose of requiring or enabling the transfer of funds and liabilities arising under the scheme in a case falling within sub-paragraph (2).

(2)

That case is where a person ceases to be a participant in the scheme in consequence of—

(a)

a transfer of his employment in accordance with a nuclear transfer scheme or transfer arrangements; or

(b)

a transfer, in accordance with such a scheme or such arrangements, of securities of, or voting rights in, a company by which he is employed or a company of which such a company is a subsidiary.

(3)

A direction by the Secretary of State under this paragraph may prescribe—

(a)

the method of determining what is to be transferred; and

(b)

the assumptions to be used in making that determination.

Annotations

Commencement

I1: Sch. 8 para. 6 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1

Notes on Schedule 8

Modifications

C1: Sch. 8: power to amend conferred (26.10.2023) by Energy Act 2023 (c. 52), ss. 315, 334(2)(o)