Amendments proposed to the Pensions Bill - continued | House of Commons |
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Publishing reports
Malcolm Wicks NC31 To 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
Malcolm Wicks NC32 To 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
(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
(5) A person guilty of an offence under subsection (4) is liable
Increase in age at which short service benefit must be payable
Malcolm Wicks NC33 To 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
Consultation by employers: occupational pension schemes
Malcolm Wicks NC34 To move the following Clause:'(1) Regulations may require any prescribed person who is the employer in relation to an occupational pension scheme and who
(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
(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 add'(5) A prescribed decision for these purposes is defined as one of the following:
Consultation by employers: personal pension schemes
Malcolm Wicks NC35 To move the following Clause:'(1) Regulations may require any prescribed person who
(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
Malcolm Wicks NC36 To 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
(4) Consultation regulations may make provision as to
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 add'(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.'.
Independent trustees
Malcolm Wicks NC38 To 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)
(3) For sections 23 and 24 (appointment of independent trustees) substitute
(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
(3) For the purposes of this section a person is independent in relation to a trust scheme only if
(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
(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)
(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."'.
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