Electricity (Supply) (Amendment) Act, 1970
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Extension of application of Act of 1942. |
5.—(1) The Board may, if they so think fit, grant and pay a supplementary allowance under section 14 of the Act of 1942 to a person— | |
(a) to whom paragraphs (a), (c) and (d) of that section apply, | ||
(b) who is either in the employment of the Board at the passing of this Act or was, on or after the 22nd day of July, 1967, in receipt of a pension under a scheme prepared and confirmed under that Act, and | ||
(c) who pays to the Board contributions of an amount equal to one per cent. of the total remuneration paid to him by the Board during the three years immediately before his retirement from the employment of the Board, | ||
subject to the limitation that the aggregate of the annual amount of the pension under a scheme aforesaid to which he is or becomes entitled and of the allowance shall not exceed— | ||
(i) one half of the annual rate of the remuneration paid to the person by the Board immediately before his retirement from the employment of the Board, or | ||
(ii) the annual amount of the pension which would have been payable to the person under a scheme aforesaid if the whole of his continuous service in the employment of the Board had been reckoned therefor, | ||
whichever is the less. | ||
(2) A person to whom, by virtue of this section, the Board may pay a supplementary allowance under section 14 of the Act of 1942 and who is paying or has paid contributions under a scheme prepared and confirmed under that Act in respect of any prior service (which expression has in this section the meaning it has in section 7 of the Act of 1942) may elect to receive a supplementary allowance under that section in lieu of the pension that would be payable to him under the scheme in respect of his prior service and, if he so elects, there shall be repaid to him out of the fund set up for the purposes of the scheme such sum referable to the contributions aforesaid and interest thereon as, in the opinion of the actuarial adviser to the trustees of the scheme, is appropriate having regard to all the circumstances. | ||
(3) If, before the date of the passing of this Act, a person to whom, by virtue of this section, the Board may pay a supplementary allowance under section 14 of the Act of 1942— | ||
(a) has retired from the employment of the Board, having attained the age at which he is permitted by the Board to retire for reasons other than infirmity of mind or body, and | ||
(b) has indicated to the Board his intention to surrender under section 15 of the Electricity (Supply) (Amendment) Act, 1958 , the whole or part of the allowance payable to him under the said section 14, | ||
the surrender shall have and be deemed to have had effect as on and from the date of such retirement. | ||
(4) Notwithstanding anything contained in any scheme prepared and confirmed under the Act of 1942, if, before the date of the passing of this Act, a person to whom, by virtue of this section, the Board may pay a supplementary allowance under section 14 of the Act of 1942— | ||
(a) has retired from the employment of the Board, having attained the age at which he is permitted by the Board to retire for reasons other than infirmity of mind or body, and | ||
(b) has, since such retirement, with the consent of the committee of any such scheme, elected, or cancelled or amended an election, to surrender part of his pension under any such scheme in return for the grant of a pension to his wife or a dependent, | ||
the election, cancellation or amendment shall have and be deemed to have had effect as on and from the date of such retirement. | ||
(5) A supplementary allowance under section 14 of the Act of 1942 payable to a person by virtue of this section shall commence to be payable on— | ||
(a) the 22nd day of July, 1967, or | ||
(b) the date of retirement from the employment of the Board of the person, | ||
whichever is the later. |