Public Sector Superannuation Reform Act 2016

In this section – assets means the assets of the Fund after all transfers under section 22(3) from the Fund of assets have taken effect; former contributory scheme means the superannuation arrangements established or continued under – the Retirement Benefits Act 1970, the Retirement Benefits Act 1982 or the Retirement Benefits Act 1993; and the former regulations in respect of contributors, as defined in those Acts and the former regulations; and the former regulations in respect of existing contributors, as defined in those Acts and the former regulations.

On and from the transfer date – the assets of the Fund vest in the Commission by virtue of this section and without the need for any further conveyance, transfer, assignment or assurance; and the rights or liabilities of the Board in relation to the assets become by virtue of this section the rights or liabilities of the Commission; and a reference in any other Act, in any instrument made under any other Act, in any contract, agreement, arrangement or undertaking, or in any document of any kind, to – the Board; or any predecessor of the Board – to the extent to which the reference relates to the assets, or the rights or liabilities, of the Board in relation to the former contributory scheme, is taken to be, or include, a reference to the Commission; and any legal, or other, proceedings that – relate to the former contributory scheme or to assets, rights or liabilities that are, after the transfer date, assets, rights or liabilities of the Commission or the Fund; and are commenced, before the transfer date, by or against the Board or a predecessor of the Board; and are pending immediately before the transfer date – are taken to be proceedings pending by or against the Commission; and any legal, or other, proceedings that – relate to the former contributory scheme or to assets, rights or liabilities that are, after the transfer date, assets, rights or liabilities of the Commission or the Fund; and could have been commenced, before the transfer date, by or against the Board or a predecessor of the Board – may be commenced by or against the Commission; and a judgement or order of a court, or other tribunal, that – relates to the assets, rights or liabilities of the Board or the Fund in relation to the former contributory scheme; and is obtained before the transfer date by or against the Board or a predecessor of the Board – may be enforced by or against the Commission; and any document, relating to legal, or other, proceedings, that – relates to the assets, rights or liabilities of the Board or the Fund in relation to the former contributory scheme; and has been served on or by the Board, or a predecessor of the Board, before the transfer date – is taken, where appropriate, to have been served on or by the Commission; and any act, matter or thing done, or omitted to be done, before the transfer date – in relation to the assets, rights or liabilities of the Board or the Fund in relation to the former contributory scheme; and by, to or in respect of the Board or a predecessor of the Board – is (to the extent to which that act, matter or thing has any force or effect) taken to have been done, or omitted, by, to or in respect of the Commission.