art 3 Alterations in Terms of Schemes
The following alterations shall be made to the terms of each of the pension schemes to which this Order applies, namely:— (a) The functions of the management committee of the scheme shall be transferred to and exercised by the Railways Board. (b) Any existing terms of the scheme relating to the holding of meetings of participants in order to elect or appoint members of the management committee, or otherwise relating to the election or appointment of such members, shall cease to have effect. (c) The audit of the funds of the scheme shall be carried out by a single auditor from time to time appointed for that scheme by the Railways Board (the terms of the appointment being determined by the Railways Board) and the existing terms of the scheme relating to the appointment or election of auditors by the employer or by the participants shall cease to have effect.