Section 73 The powers of the Boards and the Holding Company as regards pensions and pension schemes.C2C1
United Kingdom
Subject to the next following section, each of the Boards and the Holding Company shall have power to pay pensions and enter into obligations under pension schemes.
Each of the Boards and the Holding Company shall have power to lend money to be applied for the purposes of a pension scheme under which any of those bodies, or a subsidiary of any of those bodies, pay employer’s contributions or are subject to any other obligations, but shall not exercise that power without the consent of the Minister.
In the application of this section to the British Waterways Board, the reference to the Minister is to be read as a reference to the Scottish Ministers.
Annotations
Textual amendments
- F1
S. 73(3) inserted (2.7.2012) by The British Waterways Board (Transfer of Functions) Order 2012 (S.I. 2012/1659), art. 1(2), Sch. 2 para. 24 (with arts. 4-6)
Modifications
- C1
S. 73 amended (E.W.) by London Regional Transport Act 1984 (c. 32, SIF 126), s. 25(1)
- C2
S. 73 extended by Transport Act 1968 (c. 73), s. 136