Amendments proposed to the Child Trust Funds Bill - continued	House of Commons
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Income disregard for purposes of income-related benefits, etc.

   

Mr George Osborne
Mr Peter Atkinson

NC3

To move the following Clause:—

    '(1)   In determining the matters specified in subsection (2), no regard shall be had of income and gains arising on—

(a)	Inland Revenue contributions to,

(b)	subscriptions to, and

(c)	investments under

       a child trust fund.

    (2)   Those matters are—

(a)	eligibility for,

(b)	entitlement to, and

(c)

levels of

       the benefits and credits specified in subsection (3) in respect of the holder of a child trust fund.

    (3)   The following are specified in this subsection—

(a)	child tax credit,

(b)	Council Tax benefit,

(c)	housing benefit,

(d)	income support,

(e)	income-based jobseeker's allowance, and

(f)	working tax credit.'.

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Reduction of age of majority in respect of child trust funds

   

Mr George Osborne
Mr Peter Atkinson

NC4

*To move the following Clause:—

    '(1)   For the purpose of any contract entered into in respect of a child trust fund, the age of majority shall be 16.

    (2)   The Family Law Reform Act 1969 (c. 46) is amended as follows.

    (3)   After section 1 insert—

    "1A   Reduction of age of majority in respect of child trust funds

    (1)   For the purposes of any matter specified in subsection (2) which relates to a contract entered into in respect of a child trust fund, a person shall attain full age on attaining the age of sixteen.

    (2)   Those matters are-

(1)	any rule of law, and

(b)	the construction (in the absence of a definition or of any indication of a contrary intention) of the expressions listed in section 1(2) and similar expressions in—

(i)	any statutory provision, whether passed or made before, on or after the date on which this section comes into force; and

(ii)	any deed, will or other instrument of whatever nature (not being a statutory provision) made on or after that date.

    (3)   Subsections (6) and (7) of section 1 shall apply to the provisions of this section as they apply to the provisions of that section.

    (4)   In this section 'child trust fund' has the meaning given by section 1(2) of the Child Trust Funds Act 2004."

    (4)   In section 28(4) (extent), after paragraph (a) insert—

"(aa)

section 1A extends to Northern Ireland;".'.

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Report on savings effect of child trust funds

   

Mr David Laws
Norman Lamb

NC5

*To move the following Clause:—

       'The Treasury shall lay before each House of Parliament a report setting out the Treasury's estimate of the net increase in saving which will result from the provisions of this Act.'.

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Report on savings incentives

   

Mr David Laws
Norman Lamb

NC6

*To move the following Clause:—

       'The Treasury and the Department for Work and Pensions shall lay before each House of Parliament a joint report on the Government's policies to improve savings incentives from birth to retirement.'.

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Proposals for conversion of child trust funds to tax-advantaged accounts for retirement saving

   

Mr David Laws
Norman Lamb

NC7

*To move the following Clause:—

       'The Treasury shall lay before each House of Parliament a report setting out proposals for child trust fund accounts to become, on maturity, tax-advantaged accounts for retirement saving.'.

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Mr George Osborne
Mr Peter Atkinson

101

Title,     line     1,     leave out 'child trust funds' and insert 'baby bonds'.

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PROGRAMME ORDERS OF THE HOUSE (15TH AND
16TH DECEMBER 2003)

That the following provisions shall apply to the Child Trust Funds Bill:

Committal

    1.   The Bill shall be committed to a Standing Committee.

Standing Committee

    2.   Proceedings in the Standing Committee shall (so far as not previously concluded) be brought to a conclusion on 20th January 2004.

    3.   The Standing Committee shall have leave to sit twice on the first day on which it meets.

Consideration and Third Reading

    4.   Proceedings on consideration shall (so far as not previously concluded) be brought to a conclusion one hour before the moment of interruption on the day on which those proceedings are commenced.

    5.   Proceedings on Third Reading shall (so far as not previously concluded) be brought to a conclusion at the moment of interruption on the day on which proceedings on consideration are commenced.

    6.   Sessional Order B (programming committees) made by the House on 28th June 2001 shall not apply to proceedings on consideration and Third Reading.

Other proceedings

    7.   Any other proceedings on the Bill (including any proceedings on consideration of Lords Amendments or on any further message from the Lords) may be programmed.

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Prepared 2 Jan 2004