Ian Trowell at the University of Sheffield National Fairground Archive describes the 1969 Meteorite ride as:  

"A simple concept utilising centrifugal force. The wheel has cage compartments on the circumference, and force pins the riders against this (similar to a Rotor). The axis inclines towards vertical and the riders experience the centrifugal force combined with the pull away/towards the cage through gravity as the machine rotates."

All will become clear when you have the opportunity to experience the Meteorite in the new Dreamland. This will, indeed, be a historical moment because the ride acquired for Dreamland was the first to operate in an amusement park in the UK.