Divorce (Financial Provision) Bill [HL]

Amendments
to be moved
in COMMITTEE

After Clause 1

BARONESS WILCOX

 

Insert the following new Clause—

“Orders limited to matrimonial property

(1)     In this Act “matrimonial property” means all property and interests in
property, including any pension rights, which could be the subject of a
pension sharing order or a pension compensation sharing order, belonging
to the parties or either of them at the date of the relevant financial order
which was acquired—

(a)   during the marriage; and

(b)   otherwise than by gift, inheritance or succession from a third party;

and does not directly or indirectly represent property acquired by them or
either of them before the marriage.

(2)     For the purposes of subsection (1)(c)—

(a)   any premises and household goods acquired before the marriage
for use by them as or in their home shall be treated as acquired
during the marriage;

(b)   if any property that would otherwise fall within subsection (1)(c) is
used and applied so as to increase the value of any matrimonial
property the property so used or applied shall be treated as
matrimonial property;

(c)   if any matrimonial property belonging to one party is used or
applied so as to increase the value of an asset which belongs to the
other party, and is not matrimonial property, a proportionate share
(by value) of that asset shall be treated as matrimonial property;
and

(d)   paragraph (c) shall also apply if by exceptional personal skill or
effort a party to the marriage increases the value of an asset which
belongs to the other party, and is not matrimonial property.

(3)     Subsections (2)(b) to (d) do not apply in relation to any asset if it appears
that the costs of investigation and valuation required for the application of
the relevant paragraph in subsection (2) would be likely to exceed one-fifth
of the amount of the proportionate part or adjustment.

(4)     Except as provided in section 3 (pre-nuptial and post-nuptial agreements),
no relevant financial order shall be made otherwise than in relation to
matrimonial property.”

Clause 3

BARONESS WILCOX

 

Page 2, line 16, after “agreement” insert “in writing and signed by both parties to
the marriage”

Prepared 9th October 2014