The Local Government Superannuation (Greater Manchester Buses Limited) Regulations 1994
The Regulations provide that the Greater Manchester Passenger Transport Executive will meet the liability of the pensions increases for employees whose service ended with Greater Manchester Buses Limited. Greater Manchester Buses North Limited and Greater Manchester Buses South Limited are to meet the liability of the pensions increases for employees whose service ends with either of them (regulation 2). The funding of this liability is provided for by regulations 2 and 3. Regulation 2 is by virtue of section 12 of the Superannuation Act 1972 retrospective to 13th December 1993, the date on which certain employees transferred to the two new companies.