Amendments proposed to the Pensions Bill - continued House of Commons

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Mr Malcolm Wicks

71

Clause     164,     page     102,     line     41,     after '(2)' insert 'above or section 19 of the Anti-terrorism, Crime and Security Act 2001 (c.24) (disclosure of information held by revenue departments)'.


   

Mr Harry Barnes

170

*Clause     170,     page     108,     line     15,     leave out 'and any corresponding provisions in force in Northern Ireland'.


   

Mr Harry Barnes

171

*Clause     233,     page     156,     line     35,     leave out paragraph (e).


   

Mr Malcolm Wicks

90

Schedule     11,     page     229,     line     6,     at end insert—

     In section 53 (supervision: former contracted-out schemes), after subsection (1B) insert—

          "(1C)   But where a direction under subsection (1) conflicts with a freezing order made by the Regulatory Authority under section 20 of the Pensions Act 2004 in relation to the scheme then, during the period for which the freezing order has effect, the direction to the extent that it conflicts with the freezing order—

          (a) is not binding as described in subsection (1), and

          (b) is not enforceable as described in subsection (1B)."'.

   

Mr Malcolm Wicks

91

Schedule     11,     page     229,     line     6,     at end insert—

     In section 99 (trustees' duties after exercise of option)—

            (a)   in subsection (4) after "circumstances," insert "by direction", and

            (b)   in subsection (4A) for "in relation to applications for extensions under subsection (4)" substitute "requiring applications for extensions under subsection (4) to meet prescribed requirements".'.

   

Mr Malcolm Wicks

92

Schedule     11,     page     229,     line     6,     at end insert—

     In section 101J (time for compliance with transfer notice)—

            (a)   in subsection (2) after "circumstances," insert "by direction", and

            (b)   in subsection (6)(a) for "in relation to applications for extensions under subsection (2)" substitute "requiring applications for extensions under subsection (2) to meet prescribed requirements".'.

   

Mr Malcolm Wicks

93

Schedule     11,     page     229,     line     8,     at end insert—

     In section 168(4) (penalties for contravention of regulations) after "the provision" insert "to be required by notice in writing".'.

   

Mr Malcolm Wicks

94

Schedule     11,     page     229,     line     20,     at end insert—

     In section 4 (suspension orders), in subsections (3) and (5) for "class" substitute "description".'.

   

Mr Malcolm Wicks

95

Schedule     11,     page     229,     line     22,     at end insert—

     In section 9 (removal and appointment of trustees: property), after "exercise" insert "by order".'.

   

Mr Malcolm Wicks

96

Schedule     11,     page     229,     line     28,     at end insert—

     In section 29 (persons disqualified for being trustees), in subsection (5) for "class" substitute "description".'.

   

Mr Malcolm Wicks

97

Schedule     11,     page     229,     line     29,     after 'consequences)' insert '—

            (a)   in subsection (2), after "exercise" insert "by order", and

            (b)   '.

   

Mr Malcolm Wicks

98

Schedule     11,     page     230,     line     41,     at end insert—

     In section 69(2) (power to make provision in relation to applications under that section)—

            (a)   for "about the manner of dealing with" substitute "requiring", and

            (b)   after "this section" insert "to meet prescribed requirements".'.

   

Mr Malcolm Wicks

99

Schedule     11,     page     230,     line     41,     at end insert—

     In section 71A(4)(d) (power to make provision in relation to applications for the purposes of that section)—

            (a)   for "before such time as may be prescribed" substitute "before an application is made for the purposes of this section", and

            (b)   for "an application for the purposes of this section" substitute "the application".'.

   

Mr Malcolm Wicks

100

Schedule     11,     page     231,     line     42,     after '"Authority",' insert—

            '( )   in subsection (3) after "may" insert "by direction",'.


   

Mr Malcolm Wicks

101

Schedule     12,     page     232,     line     29,     leave out '1' and insert '2'.

   

Mr Malcolm Wicks

102

Schedule     12,     page     233,     leave out lines 23 and 24.

   

Mr Malcolm Wicks

103

Schedule     12,     page     233,     line     53,     column 2, at end insert—

'In section 71A(4), paragraphs (f) and (g).'


   

Mr Harry Barnes

3

Clause     246,     page     162,     line     46,     after 'England', insert 'Northern Ireland'.

   

Mr Harry Barnes

4

Clause     246,     page     163,     line     1,     leave out from beginning to end of line 22.


   

Mr Harry Barnes

5

Page     163,     line     26,     leave out Clause 247.


NEW CLAUSES

Effect of determination to wind up scheme on freezing order

   

Mr Malcolm Wicks

NC2

To move the following Clause:—

    '(1)   This section applies where—

      (a) the Regulator determines to make an order under section 11 of the Pensions Act 1995 (c.26) (power to wind up occupational pension schemes) in relation to a scheme ("a winding up order"),

      (b) that determination is made during the period for which a freezing order has effect in relation to the scheme,

      (c) the case is not one to which the special procedure in section 72 applies (immediate exercise of powers where immediate risk to assets etc), and

      (d) the winding up order accordingly cannot be made until the expiry of the period specified in section 70(4) (no exercise during period of referral to the Tribunal etc).

    (2)   In such a case the freezing order is to continue to have effect until—

      (a) where the winding up order is made, it ceases to have effect under section 24 from the time when that order is made, or

      (b) the determination to make the winding up order is revoked.

    (3)   Subsection (2) is subject to the Regulator's power under section 75 to revoke the freezing order at any time.'.


Reports by skilled persons

   

Mr Malcolm Wicks

NC3

To move the following Clause:—

    '(1)   The Regulator may issue a notice (a "report notice") to—

      (a) the trustees or managers of a work-based pension scheme,

      (b) any employer in relation to such a scheme, or

      (c) any person who is otherwise involved in the administration of such a scheme,

    requiring them or, as the case may be, him to provide the Regulator with a report on one or more specified matters which are relevant to the exercise of any of the Regulator's functions.

    (2)   A report notice must require the person appointed to make the report to be a person—

      (a) nominated or approved by the Regulator, and

      (b) appearing to the Regulator to have the skills necessary to make a report on the matter or matters concerned.

    (3)   A report notice may require the report to be provided to the Regulator—

      (a) in a specified form;

      (b) before a specified date.

    (4)   The costs of providing a report in accordance with a report notice must be met by the person to whom the notice is issued ("the notified person").

    (5)   But a report notice may require a specified person (other than the Regulator) to reimburse to the notified person the whole or any part of the costs of providing the report.

    (6)   Where, by virtue of subsection (5), an amount is required to be reimbursed by a specified person to the notified person, that amount is to be treated as a debt due from the specified person to the notified person.

    (7)   If the trustees or managers of a work-based pension scheme fail to comply with a report notice issued to them, section 10 of the Pensions Act 1995 (c.26) (civil penalties) applies to any trustee or manager who has failed to take all reasonable steps to secure compliance.

    (8)   That section also applies to any other person who, without reasonable excuse, fails to comply with a report notice issued to him.

    (9)   Where a report notice is issued, any person who is providing (or who at any time has provided) services to the notified person in relation to a matter on which the report is required must give the person appointed to make the report such assistance as he may reasonably require.

    (10)   The duty imposed by subsection (9) is enforceable, on the application of the Regulator, by an injunction or, in Scotland, by an order for specific performance under section 45 of the Court of Session Act 1988 (c.36).

    (11)   In this section—

"specified", in relation to a report notice, means specified in the notice;"work-based pension scheme" has the same meaning as in section 5 (Regulator's objectives).'.


The Interim Pension Protection Fund

   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson

NC1

To move the following Clause:—

    '(1)   The Interim Pension Protection Fund shall consist of—

      (a) property and rights transferred to the Board from salary-related occupational pension schemes—

      (i) to which section 56 of the Pensions Act 1995 (c. 26) applies;

      (ii) which are being wound up prior to the coming into force of Part 2 of this Act; and

      (iii) where prima facie there is a shortfall of assets to meet all obligations to current and future pensioners thereunder, and

      (b) proceeds of the interim levy upon unclaimed assets.

    (2)   Regulations must make provision for imposing a levy ("the interim levy") to be applied to unclaimed assets.

    (3)   The regulations must prescribe—

      (a) the identification of unclaimed assets for the purposes of this Act,

      (b) the factors by reference to which the interim levy is to be assessed,

      (c) the rate of the levy, and

      (d) the time or times during the interim period when the levy becomes payable.

    (4)   The Board shall have the same powers of compensation in respect of schemes hereunder as those set out in section 124 and Schedule 7 of this Act.

    (5)   In no circumstances may any of the proceeds of the levies established pursuant to sections 136 and 137 of this Act be applied for the purposes of this section.'.


ORDER OF THE HOUSE [2nd MARCH 2004]

That the following provisions shall apply to the Pensions 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 22nd April 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 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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