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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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Prepared 20 Jan 2004