OpenLegislation

Paragraph 6

Original text. Later amendments are not shown.

The Secretary of State may by order—

(a)

vary or amend the provisions of a supplementary scheme in any manner and at any time if so requested by—

(i)

the body by whom it was submitted, or any other body of persons which in his opinion is concerned as representing employed earners or employers ; or

(ii)

the body charged with the administration of the scheme ; and

(b)

where it appears to him that, having regard to any periodic audit and valuation, the fund constituted under the scheme—

(i)

is or is likely to become, and is likely to continue to be, insufficient to discharge its liabilities ; or

(ii)

is and is likely to continue to be more than reasonably sufficient to discharge its liabilities,

after consultation with the last-mentioned body make such modifications in any of the rates of contribution or the rates or periods of benefit under the scheme as appear to him to be required in order to make the fund, as the case may be, sufficient or no more than reasonably sufficient to discharge its liabilities.