Explanatory note

The Order amends the Port of London Act 1968 and a number of sub-ordinate instruments relating to pension schemes in the public sector of transport. Where that Act and those instruments contain references to amounts of money in the old currency of which the equivalent in decimal currency is neither a new penny nor a multiple of a new penny, the Order (a) substitutes for references to amounts in the old currency references to appropriate amounts in decimal currency; and (b) provides, in cases where tables, scales or rates are applied for the purposes of calculations under the pension schemes, rules for the rounding up or down of fractions of a new penny to multiples of a new penny.