Common use of Pension Schemes Clause in Contracts

Pension Schemes. The Company shall ensure that all pension schemes maintained by or for the benefit of any member of the Group and/or any of its employees: (a) are maintained and operated in all material respects in accordance with all applicable laws and contracts and their governing provisions; and (b) are funded substantially in accordance with the governing provisions of the scheme with any funding shortfall advised by actuaries of recognised standing being rectified in accordance with those governing provisions.

Pension Schemes. The Company shall ensure procure that all pension schemes maintained by or for the benefit of any member of the Company Group and/or any of its employees: (a) employees are maintained and operated in all material respects in accordance with all applicable laws from time to time and contracts and their governing provisions; and (b) will ensure that all such pension schemes are funded substantially in accordance with the governing provisions of the scheme such schemes with any shortfall in funding shortfall advised by actuaries of recognised standing standing, being rectified in accordance with those such governing provisions.