BSAL Fund members not transferred to BSAL
4 BSAL Fund members not transferred to BSAL
On the appointed day, an employee who—
is a member of the BSAL Fund; and
is not transferred to a position in the employment of BSAL, is taken to have become a member of the SAAMC Fund if not already a member of that Fund.
As soon as practicable after the appointed day, the trustee of the BSAL Fund must transfer the interest of the employee referred to in subclause (1) in the BSAL Fund (as determined by the trustee) to the SAAMC Fund for the benefit of the employee.
On the transfer of the interest under subclause (2)—
the trustee of the BSAL Fund is discharged from its obligations as trustee of the BSAL Fund in respect of the employee concerned; and
the employee ceases to have any entitlement to a benefit from the BSAL Fund.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.