|
Kevin Brennan
312
Clause 204, page 129, line 36, at end insert 'but in the case of contributions payable by the employer shall not be less than the contributions paid by employers into the scheme referred to in section 203(1)(c) and in the case of contributions payable by members shall not be more than the contributions paid by members into the scheme referred to in section 203(1)(c).'.
Malcolm Wicks
284
Clause 209, page 134, line 37, leave out 'insolvency' and insert 'relevant'.
Malcolm Wicks
285
Clause 209, page 135, leave out lines 2 to 6 and insert—
'(3) Subsection (2) applies only if—
| (a) | no relevant event has occurred in relation to the employer in the period beginning with the appointed day and ending with the commencement of the winding up of the scheme, or |
| (b) | since the date of the last such relevant event but before the end of that period, a cessation event has occurred in relation to the scheme.'. |
Malcolm Wicks
286
Clause 209, page 135, line 8, leave out 'insolvency' and insert 'relevant'.
Malcolm Wicks
287
Clause 209, page 135, line 20, leave out 'insolvency' and insert 'relevant'.
Malcolm Wicks
288
Clause 209, page 135, line 22, leave out 'insolvency' and insert 'relevant'.
Malcolm Wicks
289
Clause 209, page 135, leave out lines 24 to 29 and insert—
| '(a) | if the qualifying relevant event is within subsection (6B)(za)(i)— |
| (i) | the occurrence, in relation to the scheme, of an event within paragraph (a) of subsection (6A) in circumstances where that event is the first event within that subsection to occur after the qualifying relevant event, or |
| (ii) | the commencement of the winding up of the scheme before any event within subsection (6A) occurs; |
| (b) | if the qualifying relevant event is within subsection (6B)(za)(ii)— |
| (i) | the occurrence, in relation to the scheme, of an event within paragraph (a) of subsection (6AA) in circumstances where an event within paragraph (b) of that subsection had not occurred since the qualifying relevant event, or |
| (ii) | the commencement of the winding up of the scheme before any event within subsection (6AA) occurs.'. |
Malcolm Wicks
290
Clause 209, page 135, line 46, at end insert—
'(6AA) The events within this subsection are—
| (a) | the issuing of a notice under subsection (2) of section 102 of the Pensions Act 2004 confirming that a scheme rescue is not possible; |
| (b) | the issuing of a notice under subsection (3) of that section confirming that a scheme rescue has occurred.'. |
Malcolm Wicks
291
Clause 209, page 135, line 47, at end insert—
| '(za) | a relevant event occurs in relation to the employer in relation to an occupational pension scheme if and when— |
| (i) | an insolvency event occurs in relation to the employer, or |
| (ii) | the trustees or managers of the scheme make an application under subsection (1) of section 101 of the Pensions Act 2004 or receive a notice from the Board of the Pension Protection Fund under subsection (5)(a) of that section,'. |
Malcolm Wicks
292
Clause 209, page 136, line 4, leave out paragraph (b) and insert—
| '(b) | a relevant event ("the current event") in relation to the employer is a qualifying relevant event if it occurs on or after the appointed day and either— |
| (i) | it is the first relevant event in relation to the employer to occur on or after that day, or |
| (ii) | since the date of the last relevant event which occurred before the current event (but not before that day), a cessation event has occurred in relation to the scheme, |
| (ba) | "appointed day" means the day appointed under section 98(2) of the Pensions Act 2004 (no pension protection under Chapter 3 of Part 2 of that Act if the scheme begins winding up before the day appointed by the Secretary of State), |
| (bb) | "cessation event" means— |
| (i) | in the case of a relevant event within paragraph (za)(i), an event within subsection (6A)(b), (c) or (d), and |
| (ii) | in the case of a relevant event within paragraph (za)(ii), an event within subsection (6AA)(b), and'. |
Adam Price
316
Clause 209, page 136, line 14, at end insert—
'(4A) In subsection (8) leave out "not".'.
Kevin Brennan
315
Clause 210, page 136, line 38, at end insert—
'(4A) The duty in subsection (4)(b) above shall not be capable of delegation except to a sub-committee of the trustees or managers.
However the trustees or managers may provide for the informal resolution of questions, or for conciliation, in accordance with a code of practice issued by the Regulator pursuant to section 64(1) above before a dispute is referred to the trustees or managers.'.
Ms Sally Keeble
Mrs Janet Dean
Vera Baird
223
Clause 212, page 139, line 41, leave out '2.5 % per annum' and insert 'the annual increase in average earnings, or
| (iii) | the annual increase in the retail price index, |
whichever is the higher.'.
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley
293
Clause 212, page 140, line 37, at end insert—
'(5A) After subsection (6), insert—
"(7) Regulations may provide that this section does not apply to schemes falling within a prescribed class or description, or applies to them with prescribed modifications".'.
Ms Sally Keeble
Mrs Janet Dean
Vera Baird
224
Clause 212, page 141, line 2, leave out 'lesser' and insert 'greater'.
Ms Sally Keeble
Mrs Janet Dean
Vera Baird
225
Clause 212, page 141, line 7, leave out '2.5 per cent.' and insert 'the annual increase in average earnings, and
| (iii) | the annual increase in the retail price index'. |
Kevin Brennan
313
Page 139, line 23, leave out Clause 212.
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley
294
Page 141, line 17, leave out Clause 213.
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley
264
Clause 181, page 114, line 30, at end insert ', and
| (c) | must send copies of actuarial valuations and if they are obtained actuarial reports to recognised trades unions and organisations representing pensioner members of the scheme.'. |
Steve Webb
Paul Holmes
281
Clause 181, page 115, line 12, after 'employer', insert ', recognised trades unions and organisations representing the pensioner members of the scheme.'.
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley
265
Clause 183, page 116, leave out lines 8 and 9 and insert—
'(6) The trustees and managers of the scheme must send a copy of any recovery plan to—
| (b) | organisations representing the pensioner members of the scheme, and |
| (c) | recognised trade unions, |
as soon as reasonably practicable.'.
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley
255
Clause 188, page 119, line 39, at end add—
'(5) In exercising any of the powers conferred by this section the Regulator must inform—
| (a) | recognised trade unions, and |
| (b) | organisations representing the pensioner members of the scheme |
as soon as is reasonably practicable.'.
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Steve Webb
Paul Holmes
220
Clause 82, page 52, line 18, at end insert—
'(4A) The ordinary members must be representative of those parties affected.'.
Adam Price
317
Schedule 5, page 186, line 24, at end add—
'9A Non-appointed member of the board
| (1) | There shall be an allocated place on the Board for a representative of members. |
| (2) | The representative(s) shall be awarded equivalent rights and liabilities to members under paragraph 2 (appointment of ordinary members). |
| (3) | The representative(s) will not be paid by the Board or the Secretary of State for carrying out functions in accordance with subparagraph (2) above.'. |
Mr Harry Barnes
181
Schedule 5, page 191, line 10, leave out 'or any provisions in force in Northern Ireland corresponding to this Act'.
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Adam Price
1
Clause 84, page 53, line 7, at end insert—
| '(c) | a fund to be known as the Interim Pension Protection Fund.'. |
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