{
  "url": "https://openlegislation.uk/railways-pension-scheme-order-1994/schedule/paragraph-12B",
  "json_url": "https://openlegislation.uk/railways-pension-scheme-order-1994/schedule/paragraph-12B.json",
  "legislation": "uksi/1994/1433",
  "legislation_title": "The Railways Pension Scheme Order 1994",
  "legislation_url": "https://openlegislation.uk/railways-pension-scheme-order-1994",
  "path": "schedule/paragraph/12B",
  "kind": "paragraph",
  "number": "12B",
  "heading": "Change of Franchise Operator",
  "text": "In circumstances where there is to be a change of Franchise Operator and either Clause 12A or Clause 8C above apply , then the Franchising Director may require a copy of the latest acturial valuation in relation to the Section and confirmation by the Actuary that there has been no material change since the date of that last valuation which would affect the funding position of that Section. If the Franchising Director requires the Trustee will obtain a further actuarial valuation or will provide further information.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "amended",
      "affecting": "uksi/1994/2005",
      "affecting_title": "The Railway Pensions (Transfer and Miscellaneous Provisions) Order 1994"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1994/1433/schedule/paragraph/12B",
    "retrieved_at": "2026-10-29T13:32:29.265047+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."
}