§ As on and from the appointed day the following provisions shall take effect:—
- (1) The scheme shall be established and shall, subject to the provisions of
1649 this Order, be in force and have effect in lieu of and in substitution for the general rules and regulations of the North British Railway Superannuation Fund Association now in force, and those rules and regulations shall, on and after the appointed day, cease to have any force or effect:
- (2) The whole of the moneys of the association fund shall be carried to a special account in the general books of the company, to be called "The North British Railway Superannuation Fund Account," and shall, along with all future moneys of and additions to the superannuation fund, be held by the company in trust for the scheme, and shall be a debt due by the company and a charge upon the general undertaking of the company:
- (3) The liability of the company to make half-yearly or any other payments to the association fund under the North British Railway Act, 1875, or under the said general rules and regulations, or under any other existing provision, agreement, or arrangement, shall cease, and in lieu thereof the Company shall, in the half-year ending on the thirty-first day of July, one thousand nine hundred and twelve, and in each succeeding half-year ending on the thirty-first day of January and the thirty-first day of July, pay to the superannuation fund a sum equivalent to the amount of the contributions to the superannuation fund by the contributing members thereof in the service of the company during the half-year ending on the thirtieth day of June or thirty-first day of December, as the case may be, in the same half-year:
- (4) The amounts for the time being standing to the credit of the superannuation fund account, provided for by the scheme, and the superannuation fund reserve account hereafter in this Order referred to may be applied by the company to the purposes of this Order and to the general purposes of the undertaking of the company, being in every case, so far as the superannuation fund capital account is concerned, general purposes to which capital is properly applicable.
§ The LORD ADVOCATE (Mr. Ure) moved, in Sub-section (4), to leave out the word "is" ["capital account is concerned "], and to insert instead thereof the words, "and the reserve fund are."
§ Amendment agreed to.