Session 2014 - 15
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Other Bills before Parliament


 
 

:                                             

352

 

, continued

 
 

    

but this is subject to paragraphs (4) and (5).”

 

Mr Chancellor of the Exchequer 

 

Agreed to  35

 

Schedule  1,  page  50,  line  15,  leave out “a” and insert “an accruing”

 

Mr Chancellor of the Exchequer 

 

Agreed to  36

 

Schedule  1,  page  50,  line  16,  after “becomes”, insert “an accruing member of that

 

scheme upon or after becoming”

 

Mr Chancellor of the Exchequer 

 

Agreed to  37

 

Schedule  1,  page  50,  line  16,  at end insert “after the conversion date.”

 

Mr Chancellor of the Exchequer 

 

Agreed to  38

 

Schedule  1,  page  50,  line  20,  after second “(3)”, insert “, or has previously

 

complied with paragraph (2) or (3),”

 

Mr Chancellor of the Exchequer 

 

Agreed to  39

 

Schedule  1,  page  50,  line  21,  at end insert—

 

“(6)    

For the purposes of this regulation, the individual is an accruing member of a

 

registered pension scheme on any particular day if—

 

(a)    

the individual is an active member of the scheme on that day as a result

 

of there presently being arrangements for the accrual of benefits to or in

 

respect of the individual under a cash balance arrangement or hybrid

 

arrangement, or

 

(b)    

a relevant contribution is made under the scheme on that day.

 

(7)    

For the purposes of this regulation, a relevant contribution is made under a

 

registered pension scheme if—

 

(a)    

a relievable pension contribution is paid by or on behalf of the individual

 

under a non-cash-balance money purchase arrangement relating to the

 

individual under the scheme,

 

(b)    

a contribution is paid in respect of the individual by an employer of the

 

individual under a non-cash-balance money purchase arrangement

 

relating to the individual under the scheme, or

 

(c)    

a contribution—

 

(i)    

paid under the scheme by an employer of the individual, and

 

(ii)    

paid otherwise than in respect of any individual,

 

    

becomes held for the purposes of a non-cash-balance money purchase

 

arrangement relating to the individual under the scheme;

 

    

and in this paragraph “non-cash-balance money purchase arrangement” means a

 

money purchase arrangement other than a cash balance arrangement.””

 

Bill read the third time, and passed.


 
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