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S.C.A.
Amendment Paper as at
Tuesday 20th January 2004
STANDING COMMITTEE A
CHILD TRUST FUNDS BILL
Mr David Laws
Norman Lamb
155
Clause 13, page 7, line 26, at end add—
'(6) Before this section comes into force the Treasury shall lay before each House of Parliament a report setting out the additional costs to the Exchequer over the period from 1st April 2004 to 31st March 2022 of relief from income tax and capital gains tax as a consequence of the introduction of child trust fund accounts, together with an assessment of the scope for greater tax avoidance activity.'.
Mr David Laws
Norman Lamb
158
Clause 13, page 7, line 26, at end add—
'(6) This section shall not come into force until the Treasury has laid before each House of Parliament a report on how the saving gateway proposals will be applied to investments in child trust funds.'.
Mr George Osborne
Mr Peter Atkinson
53
Clause 14, page 7, line 31, leave out 'child trust fund' and insert 'baby bond'.
Mr George Osborne
Mr Peter Atkinson
54
Clause 14, page 7, line 33, leave out 'child trust fund' and insert 'baby bond'.
Mr George Osborne
Mr Peter Atkinson
55
Clause 14, page 7, line 35, leave out 'child trust funds' and insert 'baby bonds'.
Mr George Osborne
Mr Peter Atkinson
56
Clause 15, page 8, line 1, leave out 'child trust fund' and insert 'baby bond'.
Mr George Osborne
Mr Peter Atkinson
57
Clause 15, page 8, line 4, leave out 'child trust fund' and insert 'baby bond'.
Mr George Osborne
Mr Peter Atkinson
181
Clause 15, page 8, line 6, leave out paragraphs (b) to (f).
Mr George Osborne
Mr Peter Atkinson
58
Clause 15, page 8, line 6, leave out 'child trust fund' and insert 'baby bond'.
Mr George Osborne
Mr Peter Atkinson
59
Clause 15, page 8, line 8, leave out 'child trust fund' and insert 'baby bond'.
Mr George Osborne
Mr Peter Atkinson
60
Clause 15, page 8, line 9, leave out 'child trust fund' and insert 'baby bond'.
Mr George Osborne
Mr Peter Atkinson
61
Clause 15, page 8, line 12, leave out 'child trust fund' and insert 'baby bond'.
Mr George Osborne
Mr Peter Atkinson
62
Clause 15, page 8, line 12, after 'fund', insert—
'(ee) anyone responsible for the determination of matters specified in section [income disregard for purposes of income-related benefits, etc.](2),'.
Mr George Osborne
Mr Peter Atkinson
63
Clause 16, page 8, line 26, leave out 'child trust funds' and insert 'baby bonds'.
Mr George Osborne
Mr Peter Atkinson
64
Clause 17, page 8, line 42, leave out 'child trust funds' and insert 'baby bonds'.
Mr George Osborne
Mr Peter Atkinson
182
Clause 17, page 9, line 6, leave out subsection (2).
Mr George Osborne
Mr Peter Atkinson
65
Clause 17, page 9, line 6, leave out 'child trust funds' and insert 'baby bonds'.
Mr George Osborne
Mr Peter Atkinson
183
Clause 17, page 9, line 12, leave out from second 'the' to end of line 13 and insert 'collection of statistical information relating to child trust funds'.
Mr George Osborne
Mr Peter Atkinson
66
Clause 17, page 9, leave out line 15 and insert 'baby bonds'.
Mr George Osborne
Mr Peter Atkinson
67
Clause 17, page 9, line 21, leave out 'child trust funds' and insert 'baby bonds'.
Mr George Osborne
Mr Peter Atkinson
184
Clause 17, page 9, line 22, after 'held', insert 'before April 2005'.
Mr George Osborne
Mr Peter Atkinson
68
Clause 17, page 9, line 29, leave out 'child trust funds' and add 'baby bonds'.
Mr George Osborne
Mr Peter Atkinson
69
Clause 18, page 9, line 35, leave out 'child trust funds' and insert 'baby bonds'.
Mr George Osborne
Mr Peter Atkinson
70
Clause 18, page 9, line 37, leave out 'child trust fund' and insert 'baby bond'.
Mr George Osborne
Mr Peter Atkinson
71
Clause 18, page 9, line 39, leave out 'child trust fund' and insert 'baby bond'.
Mr George Osborne
Mr Peter Atkinson
72
Clause 18, page 9, line 40, leave out 'child trust funds' and insert 'baby bonds'.
Mr George Osborne
Mr Peter Atkinson
73
Clause 18, page 10, line 2, leave out 'child trust fund' and insert 'baby bond'.
Mr George Osborne
Mr Peter Atkinson
74
Clause 18, page 10, line 5, leave out 'child trust fund' and insert 'baby bond'.
Mr George Osborne
Mr Peter Atkinson
75
Clause 18, page 10, line 8, leave out 'child trust fund' and insert 'baby bond'.
Mr George Osborne
Mr Peter Atkinson
76
Clause 18, page 10, line 10, leave out 'child trust fund' and insert 'baby bond'.
Mr George Osborne
Mr Peter Atkinson
77
Clause 18, page 10, line 10, leave out 'Child Trust Funds' and insert 'Baby Bonds'.
Mr George Osborne
Mr Peter Atkinson
193
Clause 19, page 10, line 15, after 'representatives', insert 'or executors'.
Mr George Osborne
Mr Peter Atkinson
185
Clause 19, page 10, line 18, at end insert 'or a child to whom subsection (2A) applies.
(2A) This subsection applies to a child if—
| (a) | the child was born after 31st August 2002, |
| (b) | a person was eligible for child benefit in respect of the child, and |
| (c) | the condition specified in subsection (2B) is met. |
(2B) That condition is that the Inland Revenue is satisfied that the circumstances of the death of the child provide reasonable grounds for the failure of a person eligible for child benefit in respect of the child to establish his entitlement.
(2C) Subsections (3) to (6) of section 2 apply for the purposes of determining eligibility under subsection (2A)(b) of this section as they apply for the purposes of determining entitlement under that section.
(2D) Regulations made under section 2(7) may also amend subsection (2A) of this section by substituting for the reference to 31st August 2002 a reference to an earlier date specified in those regulations in respect of section 2(1).'.
Mr George Osborne
Mr Peter Atkinson
78
Clause 19, page 10, line 22, leave out 'child trust fund' and insert 'baby bond'.
Mr George Osborne
Mr Peter Atkinson
79
Clause 19, page 10, line 27, leave out 'child trust fund' and insert 'baby bond'.
Mr George Osborne
Mr Peter Atkinson
80
Clause 19, page 10, line 27, leave out 'and'.
Mr George Osborne
Mr Peter Atkinson
81
Clause 19, page 10, line 31, leave out 'child trust fund' and insert 'baby bond'.
Mr George Osborne
Mr Peter Atkinson
82
Clause 19, page 10, line 31, at end insert 'and
(d) that the Inland Revenue was required under regulations under section [additional contributions by Inland Revenue for children in care] to make a payment in respect of the child but either the payment had not been made or, if it had, the amount of the payment had not been credited to the child trust fund held by the child.'.
Mr David Laws
Norman Lamb
169
Clause 19, page 10, line 33, at end add—
'(5) Regulations shall be made to set out how payments will be made under this section without giving offence to parents after the death of their child and these regulations shall specify whether a parental request will need to be received by the Inland Revenue before a payment under this section is made.'.
Mr David Laws
Norman Lamb
170
Clause 19, page 10, line 33, at end add—
'(5) Regulations shall be made in relation to making payments under this section where the relevant child has been unlawfully killed.'.
Mr David Laws
Norman Lamb
156
Clause 20, page 10, line 36, leave out 'of £300' and insert 'not exceeding £3,000'.
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