|
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.'. |
Malcolm Wicks
399
Schedule 5, page 187, line 2, leave out 'discharged' and insert 'exercised'.
Malcolm Wicks
400
Schedule 5, page 188, line 21, leave out 'such of the Board's' and insert ', on behalf of the Board, such of its'.
Malcolm Wicks
401
Schedule 5, page 188, line 25, at end insert—
| '17A | (1) | The Board may make arrangements for any of its functions mentioned in subsection (2) to be exercised, in accordance with those arrangements, by a person on behalf of the Board. |
| (2) | The functions are those conferred by or by virtue of— |
(a) the pension compensation provisions (see section 124);
(b) section 125 (adjustments to be made where Board assumes responsibility for a scheme);
(c) section 127 (duty to notify Inland Revenue in relation to guaranteed minimum pensions);
(d) section 128 (duty to pay scheme benefits unpaid at assessment date);
(e) sections 131 and 132 (discharge of liabilities in respect of compensation or money purchase benefits);
(f) section 153 (notices requiring provision of information);
(g) section 165(1)(a) (provision of information to members of schemes etc);
(h) section 85 (supplementary powers), so far as that section relates to any function conferred by or by virtue of any provision mentioned in paragraphs (a) to (g).
| (3) | Where arrangements are made under this paragraph for any functions of the Board to be exercised by another person on its behalf— |
(a) section 157(1)(b) (offence of providing false or misleading information to the Board) and section 158 (use of information) apply in relation to that person and any functions of the Board exercised by him as they apply in relation to the Board and its functions;
(b) subject to paragraph (c), sections 159 to 164 and 165(2) to (6) (disclosure of information) apply in relation to that person and any information obtained by him in the exercise of the Board's function as they apply in relation to the Board and information obtained by it in the exercise of its functions;
(c) nothing in paragraph (b) authorises any person to determine on behalf of the Board under section 163(1) whether the disclosure of any restricted information is desirable or expedient in the interests of members of occupational pension schemes or in the public interest.
| (4) | Where the Board makes arrangements under sub-paragraph (1) for any of its functions to be exercised by a person on its behalf, those arrangements may also provide for that person to exercise on behalf of the Board— |
(a) any function, by virtue of section 168(1)(a), to give a review decision in respect of any reviewable matter arising from the exercise of that function;
(b) in relation to any function exercisable by virtue of paragraph (a) above, any other function under regulations under section 168(1) in connection with the giving of a review decision;
(c) any function conferred by section 85 (supplementary powers), so far as that section relates to any function mentioned in paragraph (a) or (b).
| (5) | In sub-paragraph (4) "review decision" has the meaning given by section 168(1).'. |
Mr Harry Barnes
181
Schedule 5, page 191, line 10, leave out 'or any provisions in force in Northern Ireland corresponding to this Act'.
Malcolm Wicks
402
Schedule 5, page 191, line 22, at end insert 'or any provision in force in Northern Ireland corresponding to either of those provisions'.
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.'. |
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley
353
Clause 84, page 53, line 10, at end insert—
'(4) The Board shall also have the power to pay benefits out of the Pension Protection Fund in respect of members of occupational pension schemes that have been wound up or are being wound up prior to the date of this Part of the Act coming into force.'.
Malcolm Wicks
364
Clause 86, page 53, line 32, leave out 'discharged' and insert 'exercised'.
Malcolm Wicks
365
Clause 87, page 54, line 25, after 'be', insert 'at least'.
Mr Harry Barnes
167
Clause 87, page 54, line 28, leave out from 'Fund)' to end of line 29.
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley
349
Clause 88, page 55, line 9, at end insert—
'(5) The statement of investment principles prepared under this section shall be made available by all appropriate means to members of the public.'.
Kevin Brennan
Sandra Osborne
272
Clause 90, page 55, line 36, leave out 'other than', and insert 'and'.
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley
256
Clause 94, page 57, line 14, at end insert 'who shall have a duty to inform the members of the scheme'.
Malcolm Wicks
366
Clause 95, page 58, line 23, at end insert—
| '( ) | a meeting of creditors is held in relation to the company under section 95 of that Act (creditor's meeting which has the effect of converting a member' voluntary winding up into a creditors' voluntary winding up);'. |
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley
257
Clause 96, page 60, line 13, at end insert 'who shall have a duty to inform the members of the scheme'.
Malcolm Wicks
367
Clause 96, page 60, line 15, at end insert—
'( ) Regulations may require notices issued under this section—
| (a) | to be in a prescribed form; |
| (b) | to contain prescribed information.'. |
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley
258
Clause 97, page 60, line 29, after 'scheme', insert 'who shall have a duty to inform the members of the scheme'.
Malcolm Wicks
282
Clause 97, page 60, line 34, after 'or', insert 'a qualifying relevant event within the meaning'.
Malcolm Wicks
283
Clause 97, page 60, line 38, after second 'event', insert 'or, as the case may be, qualifying relevant event'.
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
2
Clause 98, page 61, line 9, leave out subsection (2).
Kevin Brennan
Sandra Osborne
273
Clause 98, page 61, line 9, leave out 'not'.
Kevin Brennan
Sandra Osborne
274
Clause 98, page 61, line 9, after 'up', insert 'or if it has already been wound up.'.
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley
354
Clause 98, page 61, line 11, at end insert—
'(3) Hybrid schemes as defined by regulations will be exempt from the flat rate levy and only required to pay the risk-based levy.'.
Malcolm Wicks
368
Clause 99, page 61, line 26, at end insert—
'(2A) For the purposes of this section, in relation to an eligible scheme an insolvency event ("the current event") in relation to the employer is a qualifying insolvency event if—
| (a) | it occurs on or after the day appointed under section 98(2), |
| (i) | is the first insolvency event to occur in relation to the employer on or after that day, or |
| (ii) | does not occur within an assessment period (see section 104) in relation to the scheme which began before the occurrence of the current event, and |
| (c) | it does not occur in such circumstances as may be prescribed.'. |
Malcolm Wicks
369
Clause 99, page 61, line 28, leave out paragraph (a).
Malcolm Wicks
370
Clause 101, page 62, leave out lines 34 to 36 and insert—
'(1) Where the trustees or managers of an eligible scheme become aware that—'
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