EX-10.16.3



 





Exhibit 10.16.3




DATED 24th June 2003




BIWATER RETIREMENT AND SECURITY SCHEME




Deed of Alteration




changing the ex-WCAPS Editions of the

Fifth Definitive Trust Deed and Rules

with effect on and from 1st June 2003




CMS Cameron McKenna LLP

Mitre House

160 Aldersgate Street

London EC1A 4DD




T+44(0)171 367 3000




F +44(0)171 367 2000




File Ref: 104585.00001




Doc.Ref: 20606914.01










CERTIFIED
TO BE A TRUE AND
COMPLETE COPY OF THE ORIGINAL


CMS CAMERON
MCKENNA
DATE 4/7/2003
CMS Cameron McKenna

Mitre House

160 Aldersgate Street

London EC1A 4DD














- 1 -









 








THIS
DEED OF ALTERATION is made the
24th day
of
June 2003

[SEAL]


PARTIES





	(1)	 	The Principal Employer
	 
	 	 	BIWATER PLC whose registered office is at Biwater House, Station Approach, Dorking, Surrey
RH4 1TZ and
	 
	(2)	 	The Trustees
	 
	 	 	TERENCE WILLIAM ALBERT BARKER of “the Willows”, 20 Holme Park, Upper Newbold, Chesterfield,
Derbyshire S41 8XB NORMAN ERIC DODD of 5 Ashworth Avenue, Urmston, Manchester M41 8TH JOHN
ERNEST ALFRED KERSLAKE of Ivy House, Stack Hills Road, Todmorden, 0L14 5QW ANTHONY JOHN READ
of 4 Hazlemere Drive, St Leonards, Ringwood, Hants and BARRY SHORT of 15 Rimbury Way,
Christchurch, Dorset BH23 2RQ





RECITALS





	(A)	 	This Deed is supplemental (inter alia) to two editions of a Fifth Definitive Trust Deed
called the “Main Edition” and the “ex-WCAPS Edition” respectively and both made on
1st April 2003 (together called “the Trust Deeds”), both with Rules attached
(together called “the Rules”) and which constitute the current provisions of the Biwater
Retirement and Security Scheme (“the Scheme”)
	 
	(B)	 	In accordance with Clause 24 of the Trust Deeds, the Trustees may amend the provisions of the
Rules with the consent of the Principal Employer at any time by deed
	 
	(C)	 	The Trustees and the Principal Employer wish to amend the ex-WCAPS Edition to reflect changes
made to the Main Edition following the inclusion of a new category of water company member for
money purchase benefits in the Scheme
	 
	(D)	 	The Trustees are the present trustees of the Scheme




- 1 -









 











OPERATIVE PROVISIONS



The Trustees, with the consent of the Principal Employer, in exercise of the powers described in
recital (B) above declare that with effect on and from 1st June 2003 the ex-WCAPS edition of the
Trust Deeds and the Rules shall be amended as follows:-





	1.	 	In Clause 2.3 of the Trust Deed the words “the Personal Retirement Funds of post- 2003
Water Members,” is inserted before “and any income and gains”
	 
	2.	 	The following replaces Clause 2.4 of the Trust Deed:-






	“2.4   	(i)	 	all liabilities in respect of each Water Beneficiary shall be met from the
Water Company Sub-Fund. Additional voluntary contributions made by a Special Water
Member or an ex-WCAPS Member on a money purchase basis shall be met from its AVC
Sector, and
	 
	 	(ii)	 	all liabilities to other beneficiaries under the Scheme shall
be met from the Main Fund






	 	 	 	although for the avoidance of doubt the terms of admission to membership,
contributions and benefits of Special Water Members and post-2003 Water Members are
those applicable to them under the Main Edition”.






	3.	 	In Rule 1:-






	 	(a)	 	The following replaces the definition of “Special Water Member”
	 
	 	 	 	“Special Water Member” means a Member who is employed by a Water Company and who
became a Member in the period from 1st June 1991 to 16th
February 2003 (inclusive), other than an ex-WCAPS Member.”
	 
	 	(b)	 	The following replaces the definition of “Water Beneficiaries”
	 
	 	 	 	“Water Beneficiaries” means ex-WCAPS Members, Special Water Members, post-2003
Water Members and other persons entitled or





- 2 -









 






	 	 	 	prospectively or contingently entitled to benefits from the Water Company Sub-Fund.”
	 
	 	(c)	 	The following new definition is inserted after the definition of “Water
Undertaker”
	 
	 	 	 	“post-2003 Water Member” means a person in Service with a Water Company who became a
Member on or after 1st June 2003.”






	4.	 	In the second paragraph of Rule 19.3, the words “1 above and” are inserted immediately after
“the application of’.
	 
	5.	 	The last paragraph of Rule 19.5 is deleted.




IN WITNESS of which the parties have executed this document as a deed on the date set out above.




	 	 	 
	EXECUTED as a deed on
	 	 
	behalf of BIWATER PLC by
	 	 
	 
	 	 
	Director

	 	/s/ D. L. Magor
	 
	 	 
	Secretary

	 	/s/ Martin Robert Anthony Duffy
	 
	 	 
	SIGNED AND DELIVERED as a Deed by
	 	 
	TERENCE WILLIAM ALBERT BARKER

	 	/s/
T.
Barker

	in the presence of
	 	 
	 
	 	 
	Witness


	 	Colleen B. Macdonald
	 
	 	 
	 

	 	 
	 
	 	 
	Address


	 	12 Millstreet
Barlow
Derbyshire
S187SP






- 3 -









 






	 	 	 	 
	SIGNED AND DELIVERED as a Deed by
	 	 	 
	NORMAN ERIC DODD in the presence of
	 	 	/s/ Norman
Eric Dodd
	 
	 	 	 
	Witness
	/s/ SIGNATURE ILLEGIBLE
	 
	 	 	 
	 
	 	 	 
	 
	 	 	 
	Address

	9, Hilmarton Close
Harwood
Bolton
BL2 3HJ 	 	 
	 
	 	 	 
	SIGNED AND DELIVERED as a Deed by
	 	 	 
	JOHN ERNEST ALFRED KERSLAKE

	 	 	/s/ John
Ernest Alfred Kerslake
	in the presence of
	 	 	 
	 
	 	 	 
	Witness
	/s/ SIGNATURE ILLEGIBLE
	 
	 	 	 
	 
	 	 	 
	 
	 	 	 
	Address

	The Boat House
Stackhills
Rd
Todmorden
Lancs 

OL 145 QW	 	 
	 
	 	 	 
	SIGNED AND DELIVERED as a Deed by
	 	 	 
	ANTHONY JOHN READ in the presence of

	 	 	/s/ Anthony
John Read
	 
	 	 	 
	Witness

	/s/ SIGNATURE ILLEGIBLE
	 
	 	 	 
	 
	 	 	 
	 
	 	 	 
	Address

	9 Delton
 29 Wellington Road

Bournemouth, dorset, 

BH8 8JH	 	 
	 
	 	 	 
	SIGNED AND DELIVERED as a Deed by
	 	 	 
	BARRY SHORT in the presence of 
	 	 	/s/ Barry Short
	 
	 	 	 
	Witness

	/s/ J. D. Ward	 	
	 
	 	 	 
	 
	 	 	 
	 
	 	 	 
	Address

	8 Rimbury Way
Christchurch
Dorset
BH23 2RQ	 	 







- 4 -