{
  "url": "https://openlegislation.uk/postal-services-act-2011-transfer-of-assets-order-2012/schedule-1/paragraph-1",
  "json_url": "https://openlegislation.uk/postal-services-act-2011-transfer-of-assets-order-2012/schedule-1/paragraph-1.json",
  "legislation": "uksi/2012/688",
  "legislation_title": "The Postal Services Act 2011 (Transfer of Assets) Order 2012",
  "legislation_url": "https://openlegislation.uk/postal-services-act-2011-transfer-of-assets-order-2012",
  "path": "schedule/1/paragraph/1",
  "kind": "paragraph",
  "number": "1",
  "heading": "Definitions",
  "text": "In this Schedule—\n“C” means the Cut-Off Date (31 March 2012);\n“E” means the Effective Date (31 March 2012);\n“F” means the Final Transfer Date;\n“Interim Calculation Date 1” or “I1” means 30 September 2011;\n“Interim Calculation Date 2” or “I2” means 31 January 2012;\n“Interim Calculation Date 3” or “I3” means 31 March 2011;\n“Market Value Adjustment 1” or “MVA1” has the meaning given in paragraphs 5 and 6;\n“Market Value Adjustment 2” or “MVA2” has the meaning given in paragraphs 5 and 7;\n“RMPP Cut-Off Date Rules” has the meaning given in Schedule 1 of the Benefits Order;\n“RMPP Ax” means the audited value of the assets of the RMPP (determined in accordance with paragraphs 3 and 4) as at a particular date X (being a date before the Interim Transfer is made);\n“RMPP A′x” means the estimated value of the assets of the RMPP (determined in accordance with paragraphs 3 and 4) as at a particular date X (being a date before the Interim Transfer is made);\n“RMPP LSAM” means the liabilities of the RMPP (determined in accordance with paragraph (2)) where—\n“S” represents the date up to and including which members’ service is measured for the calculation;\n“A” represents the date as at which the financial assumptions are to be determined for the purpose of the calculation;\n“M” represents the date of the membership (but not service) and salary data to be used in the liability calculation;\n“RMPP FLXY” means the funding level of the RMPP, which is calculated as—\nRMPP AXRMPP LYXX\n(where Y, X, and X have the role of S, A and M respectively by reference to the definition of RMPP LSAM);\n“RMPP FL′XYZA” means the estimated funding level of the RMPP, which is calculated as—\nRMPP A′XRMPP LYZA × MVA1\n(where Y, Z and A have the role of S, A and M respectively by reference to the definition of RMPP LSAM);",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 1 para. 1 not in force at made date, see art. 1(2)"
    },
    {
      "type": "I",
      "label": "I2",
      "text": "Sch. 1 para. 1 in force at 1.4.2012 by S.I. 2012/966, arts. 2, 3(b)"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "S.I. 2012/687."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2012/688/schedule/1/paragraph/1",
    "retrieved_at": "2026-10-29T01:38:15.441656+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."
}