Paragraph 24

In this Schedule—

• “financial year” means—

  1. (a)

     the period beginning with the day on which this Act is passed and ending with the following 31st March; and

  2. (b)

     every subsequent period of 12 months ending with 31st March;

• “non-executive member”, in relation to the Authority, means a member of the Authority who is not an executive member;

• “occupational pension scheme” and “personal pension scheme”—

  1. (a)

     in relation to England and Wales or Scotland, have the same meanings as in the Pension Schemes Act 1993 (c. 48) (see section 1 of that Act);

  2. (b)

     in relation to Northern Ireland, have the same meanings as in the Pension Schemes (Northern Ireland) Act 1993 (c. 49) (see section 1 of that Act);

• “the relevant authority” means—

  1. (a)

     in relation to England and Wales or Scotland, the Secretary of State, or

  2. (b)

     in relation to Northern Ireland, the Department for Social Development in Northern Ireland;

• “trustee or manager”—

  1. (a)

     in relation to England and Wales or Scotland, is to be construed in accordance with section 178 of the Pension Schemes Act 1993 (c. 48) (trustees and managers of schemes: interpretation);

  2. (b)

     in relation to Northern Ireland, is to be construed in accordance with section 173 of the Pension Schemes (Northern Ireland) Act 1993 (trustees or managers of schemes).

In this Schedule references to the relevant authority's functions relating to occupational pension schemes or personal pension schemes include such functions conferred at any time after the passing of this Act.