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Horserace Totalisator Board Bill [H.L.]
 
 

 
 
A

B I L L

TO

Make provision for the transfer of the properties, rights and liabilities of the Horserace Totalisator Board to the Secretary of State and to make provision for the Secretary of State to dispose of those properties, rights and liabilities.

BE IT ENACTED by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:-
 

Transfer scheme.     1. - (1) The Secretary of State shall make a scheme for the transfer of the properties, rights and liabilities of the Horserace Totalisator Board (referred to in this Act as "the Tote") to the Secretary of State.
 
      (2) The Schedule (which makes further provision in relation to a scheme under this section) shall have effect.
 
Issue of securities.     2. - (1) The Secretary of State may issue securities to dispose of the properties, rights and liabilities of the Tote transferred to him by a transfer scheme made under section 1.
 
      (2) Any dividends or other sums received by the Secretary of State in right of or on the issue of securities under subsection (1) shall be paid into the Consolidated Fund.
 
Dissolution of the Tote.     3. - (1) The Tote shall continue in existence until it is dissolved in accordance with this section.
 
      (2) The Secretary of State may by order dissolve the Tote on any day specified in the order.
 
      (3) An order under this section shall be contained in a statutory instrument which shall be laid in draft before, and approved by resolution of, each House of Parliament.
 
Pensions.     4. - (1) The Secretary of State may by order make provision with respect to the provision of pensions for or in respect of persons who are or have been employees of the Tote.
 
      (2) The provision that may be made by virtue of subsection (1) above includes provision for or in connection with-
 
 
    (a) the establishment of pensions 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 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 this section shall only be made after consultation with the trustees or managers, or the administrators, of any pension fund or pension scheme to which the order relates.
 
      (4) An order under this section shall be contained in a statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.
 
Short title, commencement and extent.     5. - (1) This Act may be cited as the Horserace Totalisator Board Act 2000.
 
      (2) The provisions of this Act shall come into force on such day as the Secretary of State may by order appoint and different days may be appointed for different purposes.
 
      (3) An order under this section may make such transitional provision as appears to the Secretary of State to be necessary or expedient in connection with the provisions brought into force by the order.
 
      (4) This Act does not extend to Northern Ireland.
 
 
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