Session 2016-17
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Other Bills before Parliament


 
 

1

 

House of Commons

 
 

Tuesday 1 November 2016

 

Public Bill Committee Proceedings

 

Savings (Government Contributions) Bill


 

[Fifth and Sixth Sittings]


 

Glossary

 

This document shows the fate of each clause, schedule, amendment and new clause.

 

The following terms are used:

 

Agreed to: agreed without a vote.

 

Agreed to on division: agreed following a vote.

 

Negatived: rejected without a vote.

 

Negatived on division: rejected following a vote.

 

Not called: debated in a group of amendments, but not put to a decision.

 

Not moved: not debated or put to a decision.

 

Withdrawn after debate: moved and debated but then withdrawn, so not put to a decision.

 

Not selected: not chosen for debate by the Chair.

 

 


 

Ian Blackford

 

Dr Eilidh Whiteford

 

Negatived on division  10

 

Clause  6,  page  3,  leave out lines 36 to 39 and insert—

 

“(2)    

This Act comes into force on the day after the establishment of an Independent

 

Pensions and Savings Commission.”

 

Clause Agreed to.

 



 
 

Public Bill Committee Proceedings: 1 November 2016        

2

 

Savings (Government Contributions) Bill, continued

 
 

NEW CLAUSES

 

Peter Dowd

 

Ian Blackford

 

Dr Eilidh Whiteford

 

Not called  NC1

 

To move the following Clause—

 

         

“Impact review: automatic enrolment and pensions savings

 

(1)    

HMRC must review the impact of Lifetime ISAs on workplace pensions

 

automatic enrolment and pensions savings within one year of this Act coming

 

into force and every year thereafter.

 

(2)    

The conclusions of the review must be made publicly available and laid before

 

each House of Parliament.”

 


 

Peter Dowd

 

Negatived on division  NC2

 

To move the following Clause—

 

         

“Lifetime ISAs: Advice for applicants

 

(1)    

The Secretary of State must make provision by regulations for all applicants for

 

a Lifetime ISA to have independent financial advice regarding the decision to

 

save in a Lifetime ISA or through a pension made available to them.

 

(2)    

Any applicant that opts in to the services offered under subsection (1) shall be

 

given a signed declaration by that service provider outlining the financial advice

 

that applicant has received.

 

(3)    

Any provider of a Lifetime ISA must confirm whether the applicant—

 

(a)    

intends to use the Lifetime ISA for the purposes of paragraph 7 (1)(b) of

 

Schedule 1,

 

(b)    

has a signed declaration of financial advice under subsection (2),

 

(c)    

is enrolled on a workplace pension scheme or is self-employed.

 

(4)    

Where the provider determines that the applicant is—

 

(a)    

self-employed and does not participate in a pension scheme,

 

(b)    

not enrolled on a workplace pension scheme,

 

(c)    

does not intend to use the Lifetime ISA for the purposes of paragraph

 

7(1)(b) of Schedule 1, or

 

(d)    

does not have a signed declaration of financial advice under subsection

 

(2)

 

    

the provider must provide information to the applicant about the independent

 

financial advice available to them under subsection (1).”

 



 
 

Public Bill Committee Proceedings: 1 November 2016        

3

 

Savings (Government Contributions) Bill, continued

 
 

Peter Dowd

 

Not called  NC3

 

To move the following Clause—

 

         

“First-time residential purchase: Research and impact assessment

 

(1)    

Within one year of this Act coming into force the Secretary of State must conduct

 

a review into the potential impact of provisions within paragraph 7(1)(b) of

 

Schedule 1 on house prices in the UK.

 

(2)    

The findings of the review must be made publicly available and laid before each

 

House of Parliament.”

 


 

Ian Blackford

 

Dr Eilidh Whiteford

 

Negatived on division  NC4

 

To move the following Clause—

 

         

“Advice for applicants

 

(1)    

The Secretary of State must make provision by regulation to ensure all providers

 

of Lifetime ISAs or Help-to-Save accounts provide applicants, at the point of

 

application, with—

 

(a)    

advice about the suitability of the product in question for each individual

 

applicant, and

 

(b)    

information about automatic enrolment and workplace savings

 

schemes.”

 

Bill to be reported.

 


 

 

Revised 01 November 2016