Amendments proposed to the Pensions Bill - continued House of Commons

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Malcolm Wicks

371

Clause     101,     page     62,     line     39,     at end insert—

       'they must make an application to the Board for it to assume responsibility for the scheme under section 100.'.

   

Malcolm Wicks

372

Clause     101,     page     63,     line     9,     at end insert—

    '( )   The duty imposed by subsection (1) does not apply where the trustees or managers of an eligible scheme become aware as mentioned in that subsection by reason of a notice given to them under subsection (5).

    ( )   The duty imposed by subsection (4) does not apply where the Regulator becomes aware as mentioned in that subsection by reason of a copy of an application made by the trustees or managers of the eligible scheme in question given to the Regulator under subsection (2).'


   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley

259

Clause     102,     page     63,     line     25,     after 'scheme', insert 'who shall have a duty to inform the members of the scheme.'.


   

Malcolm Wicks

373

Clause     103,     page     64,     line     9,     after 'which', insert 'the time immediately after'.


   

Malcolm Wicks

374

Clause     104,     page     64,     line     25,     leave out subsection (3) and insert—

    '(3)   In subsection (2) "qualifying insolvency event" has the meaning given by section 99(2A).'

   

Malcolm Wicks

375

Clause     104,     page     64,     line     40,     leave out 'section 127(5)(a)' and insert 'section 101(5)(a)'.


   

Malcolm Wicks

376

Clause     105,     page     65,     line     6,     at beginning of line insert 'Except in prescribed circumstances and subject to prescribed conditions,'.

   

Malcolm Wicks

377

Clause     105,     page     65,     line     14,     leave out subsection (5).


   

Malcolm Wicks

378

Clause     107,     page     66,     line     20,     leave out from 'scheme' to 'an' in line 21 and insert 'in pursuance of'.

   

Malcolm Wicks

379

Clause     107,     page     66,     line     25,     leave out subsection (4) and insert—

    '(4)   During the assessment period—

      (a) except in prescribed circumstances and subject to prescribed conditions, no transfers of, or transfer payments in respect of, any member's rights under the scheme are to be made from the scheme, and

      (b) no other steps may be taken to discharge any liability of the scheme to or in respect of a member of the scheme in respect of pensions or other benefits.

    This subsection applies whether or not the scheme was being wound up immediately before the assessment period or began winding up by virtue of subsection (3).'.


   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley

260

Clause     113,     page     70,     line     8,     at end insert ', and

      ( ) recognised trade 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

261

Clause     116,     page     71,     line     40,     at end insert ', and

      '( ) recognised trades unions and organisations representing the pensioner members of the scheme.'.


   

Malcolm Wicks

380

Clause     117,     page     72,     line     30,     after 'occur' insert 'before the end of the period of six months beginning with that date'.

   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley

262

Clause     117,     page     72,     line     42,     at end insert 'who shall have a duty to inform the members of the scheme'.


   

Malcolm Wicks

381

Clause     118,     page     73,     line     21,     leave out paragraph (a).


   

Malcolm Wicks

382

Clause     120,     page     75,     line     36,     after 'quotation"' insert ', in relation to a scheme,'.

   

Malcolm Wicks

383

Clause     120,     page     75,     line     46,     leave out from 'member's' to 'rights' in line 47 and insert 'entitlement or accrued rights (including pension credit rights within the meaning of section 124(1) of the Pensions Act 1995 (c.26)) under the scheme rules (other than his entitlement or'.

   

Malcolm Wicks

384

Clause     120,     page     76,     line     2,     at end insert—

       '"scheme rules", in relation to a scheme, means—

      (a) the rules of the scheme, except so far as section 129 of the Pension Schemes Act 1993 (c.48), section 117 of the Pensions Act 1995 (c.26) or section 230 of this Act overrides them,

      (b) any provision of any of those Acts which overrides or modifies any of the rules of the scheme by virtue of one of the provisions mentioned in paragraph (a), and

      (c) any provision which the rules of the scheme do not contain but which the scheme must contain if it is to conform with the requirements of Chapter 1 of Part 4 of the Pension Schemes Act 1993 (preservation of benefit under occupational pension schemes).'


   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley

263

Clause     122,     page     77,     line     9,     after 'Regulator', insert—

      '( ) recognised trade 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

363

Clause     123,     page     77,     line     24,     after 'time', insert 'other than obligations to make restitution to the Board for wilful default prior to the Board assuming responsibility'.

   

Steve Webb
Paul Holmes

405

*Clause     123,     page     77,     line     23,     after 'time', insert 'other than obligations to make restitution to the Board for wilful default prior to the Board assuming responsibility'.


   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley

355

Schedule     7,     page     193,     line     11,     leave out from 'means' to end of line 13 and insert '90%'.

   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley

356

Schedule     7,     page     193,     line     24,     leave out sub-paragraph (7).

   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley

357

Schedule     7,     page     193,     line     31,     at end insert—

    '(7A)   The Board shall have the power to review any early retirements that have taken place in the three years prior to the Pension Protection Fund assuming responsibility for that scheme and to make retrospective adjustments if it appears that inappropriate early retirements have taken place that have caused unfair advantage to certain scheme members.'.

   

Steve Webb
Paul Holmes

406

*Schedule     7,     page     197,     line     6,     at end insert—

       'Regulations shall provide that such compensation shall, in prescribed circumstances, also be payable to a surviving unmarried partner of the pensioner.'.

   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley

270

Schedule     7,     page     208,     line     6,     leave out 'on or after 6th April 1997'.

   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley

271

Schedule     7,     page     208,     line     9,     leave out 'on or after that date'.

   

Steve Webb
Paul Holmes

6

Schedule     7,     page     208,     line     37,     leave out paragraph 30.


   

Malcolm Wicks

385

Clause     129,     page     79,     line     36,     leave out 'section 105(5)' and insert 'section 107(4)'.


   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley

352

Clause     131,     page     80,     line     33,     at end insert—

      '(d) by agreeing that the purchase of annuities in respect of an occupational pension scheme which is in the process of being wound up can be postponed, and that relevant benefits may be discharged by the Board.'.


   

Malcolm Wicks

386

Clause     132,     page     80,     line     38,     leave out 'have accrued rights under the scheme' and insert 'are entitled, or have accrued rights, under the scheme rules'.

   

Malcolm Wicks

387

Clause     132,     page     81,     line     1,     after 'section' insert—

'"accrued rights", under the scheme rules of a scheme, include pension credit rights within the meaning of section 124(1) of the Pensions Act 1995 (c.26);'.   

Malcolm Wicks

388

Clause     132,     page     81,     line     3,     at end insert—

'"scheme rules" has the meaning given by section 120(5).'.



 
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Prepared 23 Mar 2004