§ '.—(1) A Minister of the Crown may by order make provision with respect to the provision of pensions for or in respect of employees, or persons who have been employees, of, or of subsidiaries of,— 844
- (a) any of the bodies or persons falling within subsection (2) of section (Transfers of property, rights or liabilities) above;
- (b) any of the bodies or persons falling within subsection (3) of that section; or
- (c) any body or person whose undertaking, or part of whose undertaking, has been transferred by or under any enactment to a body or person falling within paragraph (b) above.
§ (2) The provision that may be made by virtue of subsection (1) above includes provision for or in connection with—
- (a) the establishment of pension schemes or pension funds;
- (b) the administration or management of pension schemes or pension funds;
- (c) enabling persons to participate, or continue to participate, in any pension scheme and requiring their employers to make contributions under that scheme;
- (d) the rates, or the variation of the rates, of contributions to be made under any pension scheme, whether by employees or employers;
- (e) the re-arrangement, amalgamation, simplification or assimilation of pension schemes.
§ (3) An order under subsection (1) above may make provision for or in connection with—
- (a) establishing a body to administer or assist in administering a pension scheme;
- (b) enabling all or any of the participants in a pension scheme to become instead participants in another pension scheme;
- (c) empowering the persons responsible for administering a pension scheme to carry out arrangements for the participation in the scheme of a person who has been an employee of, or of a subsidiary of, a body or person falling within paragraph (b) or (c) of subsection (1) above;
- (d) the manner in which questions arising under the order are to be determined.
§ (4) An order under subsection (1) above may make provision for or in connection with cases where a person who, having pension rights to which such an order relates, becomes—
- (a) a member of a body or person falling within subsection (2) of section (Transfers of property, rights or liabilities) above, or
- (b) a director of a subsidiary of such a body or person.
§ (5) The provision that may be made by virtue of subsection (4) above includes, in particular, provision for or in connection with—
- (a) treating a person's service as such a member or director as service in the employment of, or of a subsidiary of, such a body or person; or
- (b) treating two or more periods of service as continuous.
§ (6) In this section—
§ "pension" means a pension of any kind payable to or in respect of a person and includes—
- (a) a lump sum, allowance or gratuity so payable; and
- (b) a return of contributions, with or without interest or other addition;
§ "pension rights" includes—
- (a) all forms of right to or eligibility for the present or future payment of a pension to or in respect of a person; and
- (b) a right of allocation in respect of the present or future payment of a pension.'.—[Mr. Dowd.]
§ Brought up, read the First and Second time, and added to the Bill.