S.C.A.
Amendment Paper as at Tuesday 8th June 2004
STANDING COMMITTEE A
FINANCE BILL
(Except Clauses 4, 5, 20, 28, 57 to 77, 86, 111 and 282 to 289 and Schedules 1, 3, 11, 12, 21 and 37 to 39)
NOTE
The Amendments have been arranged in accordance with the Order of the Committee [6th May].
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
198
Clause 140, page 130, line 10, at end insert ', except a personal pension scheme or an arrangement comprising a number of personal pension schemes,'.
[R] Relevant registered interest declared.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
200
Page 130, line 29, leave out Clause 141.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
207
Clause 142, page 131, line 6, leave out 'cash balance benefits or other'.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
208
Clause 142, page 131, line 8, leave out subsection (3).
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
209
Clause 142, page 131, line 14, leave out '(whether' and insert 'where'.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
210
Clause 142, page 131, line 16, leave out 'or any other factor)'.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
211
Clause 142, page 131, line 17, leave out subsection (5).
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
212
Clause 142, page 131, line 26, leave out from second 'benefits' to end of line 28.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
213
Clause 142, page 131, line 30, leave out 'all of'.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
214
Clause 142, page 131, line 31, leave out from 'circumstances' to end of line 35 and insert 'money purchase benefits or defined benefits'.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
287
Clause 142, page 131, line 36, leave out subsection (9) and insert
'(9) Where an arrangement may provide both money purchase benefits and defined benefits to or in respect of a member, the arrangement is to be treated as two separate arrangements for the purposes of this Part.'.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
290
Clause 143, page 132, line 26, at end insert 'and, if the Inland Revenue's decision is not to register the pension scheme, the reasons why the pension scheme has not been registered.'.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
289
Clause 143, page 132, line 38, at end add 'and no application need be made to the Inland Revenue under this Part'.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
291
Clause 147, page 134, line 39, at end add 'and the reasons why the registration of the pension scheme has been withdrawn.'.
Mr Paul Boateng
297
Clause 150, page 136, line 31, after second 'to' insert 'or in respect of'.
Mr Paul Boateng
298
Clause 151, page 137, line 31, at end insert '(or who was connected with a member at the date of the member's death)'.
Mr Paul Boateng
299
Clause 151, page 137, line 34, after 'employer' insert '(or who was connected with a member at the date of the member's death)'.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
292
Clause 152, page 138, line 16, at end insert 'except in prescribed circumstances'.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
293
Clause 154, page 138, line 39, leave out 'and'.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
294
Clause 154, page 138, line 39, at end insert
'(ea) | payments made to settle a dispute, other than payments made in bad faith; and'. |
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
284
Clause 155, page 139, leave out lines 22 to 26 and insert
'No payment of pension other than
(b) | a lifetime annuity, or |
(c) | unsecured pension, if the member has not reached age 80, or |
(d) | alternatively secured pension, if the member has reached age 80'. |
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
285
Clause 155, page 139, leave out lines 34 to 41.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
286
Clause 155, page 139, line 42, leave out '7' and insert '6'.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
332
Clause 155, page 139, line 45, leave out '70%' and insert '100%'.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
333
Clause 155, page 139, line 46, at end insert
'Pension rule 7
Notwithstanding anything to the contrary in the above pension rules, unsecured pension may be paid to a member who has reached the age of 75 in respect of a money purchase arrangement except in prescribed circumstances.'.
Mr Paul Boateng
300
Clause 155, page 140, line 7, after 'person' insert 'first'.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
221
Clause 157, page 141, line 1, leave out from beginning to end of line 5 and insert
'No payment of pension other than
(b) | a lifetime annuity, or |
(c) | unsecured pension, if the dependant has not reached age 80, or |
(d) | alternatively secured pension, if the dependant has reached age 80'. |
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
222
Clause 157, page 141, leave out lines 13 to 20.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
223
Clause 157, page 141, line 21, leave out '6' and insert '5'.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
334
Clause 157, page 141, line 24, leave out '70%' and insert '100%'.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
335
Clause 157, page 141, line 25, at end insert
'Pension death benefit rule 6
Notwithstanding anything to the contrary in the above pension death benefit rules, dependant's unsecured pension may be paid to a dependant who has reached the age of 80 in respect of a money purchase arrangement except in prescribed circumstances.'.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
216
Schedule 28, page 421, line 14, leave out subparagraph (1).
Mr Paul Boateng
301
Schedule 28, page 421, line 25, after 'that' insert '(subject to sub-paragraph (4))'.
Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
217
Schedule 28, page 421, line 25, after 'that', insert ', except to the extent permitted under this Act, the Pensions Act 1995 or otherwise'.
Mr Paul Boateng
302
Schedule 28, page 421, line 30, leave out '(except in excluded circumstances)'.
Mr Paul Boateng
303
Schedule 28, page 421, line 32, leave out sub-paragraph (4) and insert
'(4) | None of the following prevent the pension satisfying the condition in sub-paragraph (3) |
(a) if the ill-health condition is met when the member becomes entitled to the pension, the pension not being payable for a period during which the individual's physical and mental condition is no longer such as would, under the terms of the scheme, give rise to entitlement to the pension,
(b) a reduction in the rate of the pension which applies to all the scheme pensions being paid to or in respect of members of the pension scheme, or
(c) if the member becomes entitled to state retirement pension, a reduction in the rate of the pension which does not exceed the rate at which state retirement pension is payable (or, if the rate at which state retirement pension is payable is greater than the rate of the pension, the pension ceasing to be payable).
(4A) | For the purposes of sub-paragraph (4)(c) the following constitute "state retirement pension" |
(a) retirement pension under SSCBA 1992 or SSCB(NI)A 1992, and
(b) graduated retirement benefit under NIA 1965 or NIA(NI) 1966.'.
|