71. Pensions

(1) This section applies to -

(za) mandatory reduction instruments,

(a) share transfer orders,

(b) share transfer instruments,

(c) property transfer instruments, and

(d) resolution instruments.

(2) An order or instrument may make provision -

(a) about the consequences of a transfer for a pension scheme;

(b) about property, rights and liabilities of any pension scheme of the bank.

(3) In particular, an order or instrument may -

(a) modify any rights and liabilities;

(b) apportion rights and liabilities;

(c) transfer property of, or accrued rights in, one pension scheme to another (with or without consent).

(4) Provision by virtue of this section may (but need not) amend the terms of a pension scheme.

(5) A share or property transfer instrument may make provision in reliance on this section only with the consent of the Treasury.

(6) In this section -

(a) "pension scheme" includes any arrangement for the payment of pensions, allowances and gratuities, and

(b) a reference to a pension sche

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