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The Iron and Steel (Pension Schemes) (Amendment) Regulations 1972

S.I. 1972/1826 · Made 28 November 1972

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IRON AND STEEL

Made 28th November 1972

Laid before Parliament 6th December 1972

Coming into Operation 29th December 1972

The Secretary of State, in exercise of the powers conferred by section 40 of the Iron and Steel Act 1949 as revived and amended by section 31 of the Iron and Steel Act 1967 and now vested in himf1 and all other powers in that behalf enabling him, after consultation with the British Steel Corporation and such organisations as appear to him to be representative of persons concerned, hereby makes the following regulations:—

Annotations to the whole text

Footnotes

f1

S.I. 1969/1498, 1970/1537 (1969 III, p. 4797; 1970 III, p. 5293).

Contents

  1. Citation, commencement and interpretation
  2. 1Regulation 1
  3. 2Regulation 2
  4. 3Regulation 3
  5. Signature
  6. Explanatory note

1

(1)

These regulations may be cited as the Iron and Steel (Pension Schemes) (Amendment) Regulations 1972 and shall come into operation on 29th December 1972.

(2)

In these regulations “the principal regulations” means the Iron and Steel (Pension Schemes) Regulations 1967f1 as amendedf2 .

(3)

The Interpretation Act 1889 shall apply to the interpretation of these regulations as it applies to the interpretation of an Act of Parliament.

2

Regulation 2 of the principal regulations is further amended by adding the following paragraph thereto:—

“(3)

Nothing in the Truck Acts 1831 to 1940 shall prevent the deduction of a contribution due from any officer of the Corporation under a pension scheme established by the Corporation from the wages or remuneration of that officer or render invalid any provision therefor under such a scheme; and for the purposes of the Shop Clubs Act 1902f1 no such scheme shall be deemed to constitute a shop club or thrift fund within the meaning of that Act.”

3

Paragraphs (2) and (3) of regulation 3 of the principal regulations are further amended by substituting for the words “the 28th July 1972” the words “the 31st December 1972”.

Signature

Tom Boardman

Minister for Industry

Department of Trade and Industry

Dated 28th November 1972

Explanatory note

These regulations enable contributions to pension schemes established by the British Steel Corporation due from members of a scheme to whom the Truck Acts apply to be deducted from their wages or remuneration and provide that the Shop Clubs Act 1902 (which in certain cases would otherwise prevent persons eligible to be members of such schemes being required to be members) shall not apply to such schemes.

They also enable new entrants to continue to be admitted to existing pension schemes of publicly-owned companies until 31st December 1972.