Explanatory note

This Order substitutes a new section 70 of the Harwich Harbour Act 1974 (1974 c.i). The original section provided for the Harwich Haven Authority to continue and maintain a contributory pensions fund.

The new section empowers the Authority to establish, continue and maintain one or more pension funds. The section does not specify that funds be contributory or non-contributory.

Pension funds are to be regulated by rules made or consented to by the Authority. The new section requires the Authority from time to time to contribute to such pension funds out of its revenues such sums as it is required to contribute under those rules.

A full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.