Provide finance for payments in cases where persons have been adversely
affected by maladministration in the regulation before December 2001 of the
Equitable Life Assurance Society; and for connected purposes.
Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and
consent of the Lords Spiritual and Temporal, and Commons, in this present
Parliament assembled, and by the authority of the same, as follows:—
Expenditure incurred by the Treasury for or in connection with the making of
payments to which this section applies may be paid out of money provided by
This section applies to any payments that the Treasury authorise in cases where
persons have been adversely affected by maladministration in the regulation before
December 2001 of the Equitable Life Assurance Society.
The Treasury may make provision by order made by statutory instrument for
a payment to which this section applies to be disregarded to any extent for the
purposes of any of these—
(a) liability to tax;
(b) entitlement to a tax credit;
liability to make a payment in respect of the provision under an
enactment of goods or services (including accommodation);
(4) Different provision may be made under subsection (3) for different purposes.
A statutory instrument containing an order under subsection (3) may not be
made unless a draft has been laid before and approved by resolution of each
House of Parliament.
In this section “enactment” includes an enactment contained in subordinate
legislation (within the meaning of the Interpretation Act 1978) and an
enactment contained in, or in an instrument made under, any of these—
Equitable Life (Payments) BillPage 2
(a) an Act of the Scottish Parliament;
(b) Northern Ireland legislation;
(c) a Measure or Act of the National Assembly for Wales.
This Act may be cited as the Equitable Life (Payments) Act 2010.