Supplementary provisions concerning custodianship
Mr John Butterfill
NC31
To move the following Clause:—
'.—(1) In section (Custodianship of investments) references to an appropriate authorised person are to a person who—
(a) is regulated in the carrying on of business consisting of the holding of pension scheme investments in accordance with such agreements as are mentioned in that section by a body which is a recognised self-regulating organisation for the purpose of the Financial Services Act 1986, and
(b) subject to subsection (2), is not connected with the person who is the employer in relation to the scheme in question.
(2) Paragraph (1)(b) does not apply—
(a) where the employer is an institution authorised under the Banking Act 1987 or a prescribed person and the arrangements made under this section comply with such further requirements as may be prescribed, or
(b) in prescribed circumstances.
(3) Section 2(1) of the Financial Services Act 1986 (power to extend or restrict the meaning of "investment" and "investment business" for the purposes of all or any provisions of that Act) shall apply in relation to the provisions of section (Custodianship of investments) and this section as it applies in relation to the provisions of that Act.'.
Company takeovers: trustees rights
Mr Andrew Miller
NC34
*To move the following Clause:—
'.—In circumstances where the employer changes the trustees will be consulted by the existing employer on any issue that would have any impact upon the pension fund or monies due to it, prior to the transfer.'.
Lynne Jones
Audrey Wise
Mr Andrew Miller
Dr Roger Berry
Mr John McDonnell
Alice Mahon
| Mr Tony Benn | Mr Robert N. Wareing | Mr Kelvin Hopkins
|
70
Page 35, line 25 [Clause 40], at end insert—
'(za) The word "and" shall be omitted and after paragraph (a) there shall be inserted—
"( ) that in the case of schemes which fall in a prescribed class, that such arrangements for the selection of persons nominated by pensioner members and deferred members of the scheme to be trustees of the scheme as are required by this section are made, and".'.
Lynne Jones
Audrey Wise
Mr Andrew Miller
Dr Roger Berry
Mr John McDonnell
Alice Mahon
| Mr Tony Benn | Mr Robert N. Wareing | Mr Kelvin Hopkins
|
72
Page 35, line 30 [Clause 40], leave out subsection (3) and insert—
'(3) In subsection (3) (selected persons to be trustees)—
(a) in paragraph (a) for "in accordance with the appropriate rules" there shall be substituted "as a member-nominated trustee"; and
(b) after paragraph (b) there shall be inserted—
"(c) for member-nominated trustees to be selected only by the members of the scheme or their representatives;
(d) regulations may prescribe who is a representative for the purpose of paragraph (c).".'.
Lynne Jones
Audrey Wise
Mr Andrew Miller
Dr Roger Berry
Mr John McDonnell
Alice Mahon
| Mr Tony Benn | Mr Robert N. Wareing
|
71
Page 35, line 39 [Clause 40], at end insert—
'(5A) In paragraph (b) of subsection (6), after the words "total number of trustees" there shall be inserted the words "and in the case of schemes to which paragraph (b) of subsection (1) above applies, at least one additional trustee nominated by the pensioner members and deferred members of the scheme.".'.
Steve Webb
Mr Paul Burstow
Mr Andrew George
86
*Page 35, line 41 [Clause 40], after '(6A), insert 'The arrangements must provide that, where the majority of members of the scheme are pensioners, the majority of member-nominated trustees are nominated and selected by pensioner members of the scheme.
(6B)'.
Lynne Jones
Audrey Wise
Mr Andrew Miller
Dr Roger Berry
Mr John McDonnell
Alice Mahon
| Mr Tony Benn | Mr Robert N. Wareing | Mr Kelvin Hopkins
|
73
Page 36, line 19 [Clause 40], leave out 'and'.
Lynne Jones
Audrey Wise
Mr Andrew Miller
Dr Roger Berry
Mr John McDonnell
Alice Mahon
| Mr Tony Benn | Mr Robert N. Wareing | Mr Kelvin Hopkins
|
74
Page 36, line 22 [Clause 40], at end insert ', and
(c) unless a proposal is made to which section 18A below applies, and regulations made under section 18A(4) apply as a consequence, the manner in which the trustees are to inform and consult with the members and former members of the scheme about the effect of the arrangements to be made in accordance with this section.'.
Mr David Willetts
Mrs Jacqui Lait
Mr Eric Pickles
Mr Edward Leigh
Mr Laurence Robertson
Miss Julie Kirkbride
66
Page 36, line 22 [Clause 40], at end insert—
'(9A) The Secretary of State shall make regulations providing that all trustees shall be required to have attended an approved training course explaining the role and responsibilities of trustees within six months of being either elected as a member-nominated trustee or appointed as a trustee by the scheme's sponsoring employer.
(9B) Regulations under subsection (9A) shall also prescribe the content of such an approved training course.
(9C) The failure of a trustee to attend such a course as is mentioned in subsection (9A) within six months of being either elected or appointed as a trustee shall nullify the trustee's election or appointment.'.
Lynne Jones
Audrey Wise
Mr Andrew Miller
Dr Roger Berry
Mr John McDonnell
Alice Mahon
| Mr Tony Benn | Mr Robert N. Wareing | Mr Kelvin Hopkins
|
75
Page 37, line 7 [Clause 40], at end insert—
'(5A) In paragraph (b) of subsection (6) for the words "at least one third" there shall be substituted "at least one half.".'.
Mr John Butterfill
83
Page 105, line 9 [Schedule 5], at end insert—
'Minimum funding requirement
. In section 56 of the 1995 Act (minimum funding requirement) subsection (4) shall be omitted.'.
NEW CLAUSES RELATING TO CHAPTER III OF PART II
War widows' pensions—entitlement
Mr David Willetts
Mrs Jaqui Lait
Mr Eric Pickles
Mr Edward Leigh
Mr Laurence Robertson
Miss Julie Kirkbride
NC21
To move the following Clause:—
'.—(1) The Secretary of State shall review the operation of this section when—
(i) a report on the armed forces pension scheme has been laid before Parliament by the Secretary of State for Defence; and
(ii) the results of any public consultation upon a report as cited in subsection (i) above have been published;
and a report of any review carried out under this section shall be laid before Parliament.
(2) Subject to subsection (3), a widow in receipt of a widow's pension under any of the enactments mentioned in subsection (4) ("the DSS pension") and in receipt of a pension paid under the Armed Forces Pension Scheme shall on remarriage or when living together as husband and wife with a member of the opposite sex only retain the Forces Family Pension (attributable).
(3) Subsection (2) does not apply to a widow in receipt of a basic pension under section 44 of the Social Security Contributions and Benefits Act 1992; and a widow in receipt of such a pension who has remarried or is living together as husband and wife with a member of the opposite sex may not retain the Forces Family Pension (attributable).
(4) The enactments referred to in subsection (2) are—
(a) the Naval, Military and Air Forces etc. (Disablement and Death) Service Pensions Order 1983, and any order re-enacting the provisions of that order,
(b) the Personal Injuries (Civilians) Scheme 1983, and any subsequent scheme made under the Personal Injuries (Emergency Provisions) Act 1939,
(c) any scheme made under the Pensions (Navy, Army, Air Force and Mercantile Marine) Act 1939, or the Polish Resettlement Act 1947 applying the provisions of any such order as is referred to in paragraph (a),
(d) the order made under section 1(5) of the Ulster Defence Regiment Act 1969 concerning pensions and other grants in respect of disablement or death due to service in the Ulster Defence Regiment.'.
Mr Secretary Darling
58
Page 130, line 7 [Schedule 9], at beginning insert—
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'10 & 11 Geo. 6 c.24.
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The Naval Forces (Enforcement of Maintenance Liabilities) Act 1947.
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In section 1(1), paragraph (aaa).
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3 & 4 Eliz. 2 c.18. |
The Army Act 1955. |
In section 150A, in subsection (2), paragraph (b) and the word "or" preceding it, and in subsection (3), the words "or cancels" and "or (as the case may be) that it has been cancelled". |
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3 & 4 Eliz. 2 c.19. |
The Air Force Act 1955. |
In section 150A, in subsection (2), paragraph (b) and the word "or" preceding it, and in subsection (3), the words "or cancels" and "or (as the case may be) that it has been cancelled". |
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1973 c.18. |
The Matrimonial Causes Act 1973. |
In section 29, in subsection (7), the words "or is cancelled", "or was cancelled" and "or, as the case may be, the date with effect from which it was cancelled"; and in subsection (8), paragraph (b) and the word "and" preceding it. |
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1978 c.22. |
The Domestic Proceedings and Magistrates' Courts Act 1978. |
In section 5, in subsection (7), the words "or is cancelled", "or was cancelled" and "or, as the case may be, the date with effect from which it was cancelled"; and in subsection (8), paragraph (b) and the word "and" preceding it. |
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1989 c.41. |
The Children Act 1989. |
In Schedule 1, in paragraph 3(7), the words "or is cancelled", "or was cancelled" and "or, as the case may be, the date with effect from which it was cancelled"; and in paragraph 3(8), paragraph (b) and the word "and" preceding it.'.
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