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7Any arrangements made—
(a)by the Scottish Development Agency under paragraph 10(2) of Schedule 1 to the [1975 c. 69.] Scottish Development Agency Act 1975 for the payment of pensions shall be treated on and after the first transfer date (so far as may be necessary to preserve their effect) as having been made by Scottish Enterprise under paragraph 15(2) of Schedule 1 to this Act;
(b)by the Highlands and Islands Development Board under paragraph 14(1)(b) of Schedule 1 to the [1965 c. 46.] Highlands and Islands Development (Scotland) Act 1965 shall be treated on and after the second transfer date (so far as may be necessary to preserve their effect) as having been made by Highlands and Islands Enterprise under the said paragraph 15(2),
and any pension scheme established and administered by either of the existing bodies shall be deemed to be a pension scheme established and administered by their successor under the said paragraph 15(2) and shall continue to be administered accordingly.
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