|Amendments proposed to the Pensions Bill - continued||House of Commons|
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NC31To move the following Clause:
'(1) The Board may, if it considers it appropriate to do so in any particular case, publish a report of the exercise of, or any matter arising out of or connected with the exercise of, any of its functions in that case.
(2) The publication of a report under subsection (1) may be in such form and manner as the Board considers appropriate.
(3) For the purposes of the law of defamation, the publication of any matter by the Board is privileged unless the publication is shown to be made with malice.'.
No indemnification for fines or civil penalties
NC32To move the following Clause:
'(1) No amount may be paid out of the assets of an occupational or personal pension scheme for the purpose of reimbursing, or providing for the reimbursement of, any trustee or manager of the scheme in respect of
(2) For the purposes of subsection (1), providing for the reimbursement of a trustee or manager in respect of a fine or penalty includes (among other things) providing for the payment of premiums in respect of a policy of insurance where the risk is or includes the imposition of such a fine or the requirement to pay such a penalty.
(3) Where any amount is paid out of the assets of an occupational or personal pension scheme in contravention of this section, section 10 of the Pensions Act 1995 (c.26) (civil penalties) applies to any trustee or manager who fails to take all reasonable steps to secure compliance.
(4) Where a trustee or manager of an occupational or personal pension scheme
then, unless he has taken all reasonable steps to secure that he is not so reimbursed, he is guilty of an offence.
(5) A person guilty of an offence under subsection (4) is liable
Increase in age at which short service benefit must be payable
NC33To move the following Clause:
'(1) In section 71 of the Pension Schemes Act 1993 (c.48) (basic principle as to short service benefit), for subsection (3) substitute
"(3) Subject to subsection (4), short service benefit must be made payable as from an age which is no greater than
(2) In section 72 of that Act (no discrimination between short service and long service beneficiaries), at the end add
"(4) This section is subject to subsections (3) and (6) of section 71 (age at which short service benefit is to be payable).".'.
Consultation by employers: occupational pension schemes
NC34To move the following Clause:
'(1) Regulations may require any prescribed person who is the employer in relation to an occupational pension scheme and who
to consult prescribed persons in the prescribed manner before the decision is made.
(2) Regulations may require the trustees or managers of an occupational pension scheme not to make a prescribed decision in relation to the scheme unless
(3) The validity of any decision made in relation to an occupational pension scheme is not affected by any failure to comply with regulations under this section.
(4) Section (Further provisions about regulations relating to consultation by employers) contains further provisions about regulations under this section.'.
As an Amendment to Malcolm Wicks' proposed New Clause (NC34) (Consultation by employers: occupational pension schemes):
Mr David Willetts
(a)Line 21, at end insert
'(5) A prescribed decision for these purposes is defined as one of the following:
(6) The prescribed persons to be consulted hereunder will not include trade unions where an employer has established procedures for directly consulting employees in an alternative manner.'.
Consultation by employers: personal pension schemes
NC35To move the following Clause:
'(1) Regulations may require any prescribed person who
to consult prescribed persons in the prescribed manner before he makes the decision.
(2) The validity of any decision prescribed for the purposes of subsection (1)(b) is not affected by any failure to comply with regulations under this section.
(3) Section (Further provisions about regulations relating to consultation by employers) contains further provisions about regulations under this section.'.
Further provisions about regulations relating to consultation by employers
NC36To move the following Clause:
'(1) In this section "consultation regulations" means regulations under section (Consultation by employers: occupational pension schemes) or (Consultation by employers: personal pension schemes).
(2) Consultation regulations may
(3) Persons on whom obligations are imposed by consultation regulations, either as employers or as the trustees or managers of occupational pension schemes, must, if so required by the Regulator, provide information to the Regulator about the action taken by them for the purpose of complying with the regulations.
(4) Consultation regulations may make provision as to
(5) Nothing in consultation regulations is to be regarded as affecting any duty to consult arising otherwise than under the regulations.'.
As Amendments to Malcolm Wicks' proposed New Clause (NC36) (Further provisions about regulations relating to consultation by employees):
Mr David Willetts
(a)Line 13, after 'ballots', insert 'where it is necessary for the purpose of selecting employee representatives.'.
Mr David Willetts
(b)Line 34, at end insert
'(6) The discretion on an employer as to the persons who are to be consulted in subsection (2)(C) above shall be mandatory in cases where an employer has existing arrangements in place for direct consultation with employees.'.
NC38To move the following Clause:
'(1) Part 1 of the Pensions Act 1995 (occupational pension schemes) is amended as follows.
(2) In section 22 (circumstances in which provisions relating to independent trustees apply)
"(2A) To the extent that it does not already apply by virtue of subsection (1), this section also applies in relation to a trust scheme
"(2B) The responsible person must, as soon as reasonably practicable, give notice of an event within subsection (2C) to
(2C) The events are
(2D) For the purposes of subsection (2B) "the responsible person" means
(2E) Regulations may require prescribed persons in prescribed circumstances where this section begins or ceases to apply in relation to a trust scheme by virtue of subsection (2A) to give a notice to that effect to
(2F) A notice under subsection (2B), or regulations under subsection (2E), must be in writing and contain such information as may be prescribed."
(3) For sections 23 and 24 (appointment of independent trustees) substitute
23 Power to appoint independent trustees
(1) While section 22 applies in relation to a trust scheme, the Authority may by order appoint as a trustee of the scheme a person who
(2) In relation to a particular trust scheme, no more than one trustee may at any time be an independent trustee appointed under subsection (1).
(3) For the purposes of this section a person is independent in relation to a trust scheme only if
and any reference in this Part to an independent trustee is to be construed accordingly.
(4) Regulations must provide for the Authority to compile and maintain a register of persons who satisfy the prescribed conditions for registration.
(5) Regulations under subsection (4) may provide
(6) The circumstances which may be prescribed under subsection (5)(a) or (b) include the payment by the person to whom the copy is to be provided, or by whom the register is to be inspected, of such reasonable fee as may be determined by the Regulator.
(7) This section is without prejudice to the powers conferred by section 7."
(4) In section 25 (appointment and powers of independent trustees: further provision)
"(5A) Section 10 applies to any person who, without reasonable excuse, fails to comply with subsection (4)(a).", and
"(6) An order under section 23(1) may provide for any fees and expenses of the trustee appointed under the order to be paid
(7) Such an order may also provide that an amount equal to the amount (if any) paid out of the resources of the scheme by virtue of subsection (6)(b) or (c) is to be treated for all purposes as a debt due from the employer to the trustees of the scheme.
(8) Where, by virtue of subsection (6)(b) or (c), an order makes provision for any fees or expenses of the trustee appointed under the order to be paid out of the resources of the scheme, the trustee is entitled to be so paid in priority to all other claims falling to be met out of the scheme's resources."'.