Amendments proposed to the Finance Bill - continued House of Commons

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Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

274

Clause     185,     page     157,     line     32,     leave out 'if they are allowed to be deducted'.


   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

202

Clause     186,     page     159,     line     19,     leave out 'pensioner'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

282

Clause     186,     page     159,     line     21,     after 'which', insert 'have accrued under the pension scheme to or in respect of members, or

      (c) benefits which'.


   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

283

Clause     188,     page     160,     line     33,     after 'Ireland)', insert ', or

      (c) in prescribed circumstances.'.


   

Mr Paul Boateng

427

*Schedule     31,     page     446,     line     2,     at end insert—

    '(2A) Omit the entry relating to section 623.'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

399

Schedule     31,     page     446,     line     30,     leave out 'accrues in that year irrespective of when any amount is actually paid' and insert 'is paid in that year'.

   

Mr David Laws
Norman Lamb
Mr John Burnett
Dr Vincent Cable

188

Schedule     31,     page     447,     line     40,     at end insert—

      '(g) a charity lump sum death benefit'.

   

Mr David Laws
Norman Lamb
Mr John Burnett
Dr Vincent Cable

189

Schedule     31,     page     448,     line     24,     at end insert '"charity lump sum death benefit"'.

   

Mr Quentin Davies

113

Schedule     31,     page     449,     line     23,     at end insert—

    '(2A)   In that subsection, immediately before the entry relating to section 616, insert—

       "section 607 (retirement annuity contracts".'.


   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

336

Clause     195,     page     164,     line     17,     leave out '35%' and insert '32%'.


   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

337

Clause     196,     page     164,     line     39,     leave out '35%' and insert '32%'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

400

Clause     196,     page     165,     line     4,     at end insert ', or

      (c) in prescribed circumstances.'.


   

Mr Paul Boateng

428

*Clause     197,     page     165,     line     25,     leave out subsection (4).


   

Mr Paul Boateng

429

*Clause     198,     page     166,     line     19,     leave out subsection (5).


   

Mr Paul Boateng

430

*Clause     201,     page     168,     line     18,     after 'would' insert ', on the valuation assumptions (see section (Valuation assumptions)),'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

401

Clause     201,     page     168,     line     26,     at end insert ', multiplied in either case by actuarial equivalence factor.'.

   

Mr Paul Boateng

431

*Clause     201,     page     168,     line     33,     leave out from beginning to 'acquired' in line 34 and insert 'valuation assumptions, be entitled under the arrangement on the date if, on the date, the member'.

   

Mr Paul Boateng

432

*Clause     201,     page     168,     line     37,     leave out from 'on' to 'acquired' in line 39 and insert 'the valuation assumptions, be entitled under the arrangement on the date (otherwise than by way of commutation of pension) if, on the date, the member'.

   

Mr Paul Boateng

433

*Clause     201,     page     168,     line     42,     leave out subsection (7).

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

402

Clause     201,     page     169,     line     14,     at end add—

    '(12)   In this Part, the actuarial equivalence factor is the factor certified from time to time by the Government Actuary which is appropriate having regard to the age of the individual.'.


   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

403

Clause     205,     page     172,     line     9,     column     1,     leave out 'The individual becoming entitled to a scheme pension under any of the relevant pension schemes' and insert 'Payment commencing of a scheme pension to the individual under any of the relevant pension schemes.'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

405

Clause     205,     page     172,     line     12,     column     1,     leave out 'The individual having become so entitled, becoming entitled to payment of the scheme pension, otherwise than in excepted circumstances, at an annual rate which exceeds the rate at which it was last paid by more than the permitted margin' and insert 'The annual rate of a scheme pension which has commenced increasing, other than in prescribed circumstances, to an annual rate which exceeds the annual rate at which it was last paid by more than the permitted margin.'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

404

Clause     205,     page     172,     line     20,     column     1,     leave out 'The individual becoming entitled to a lifetime annuity purchased under a money purchase arrangement under any of the relevant pension schemes' and insert 'Payment to the individual commencing of a lifetime annuity purchased under a money purchase arrangement under any of the relevant pension schemes.'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

406

Clause     205,     page     172,     line     20,     column     2,     leave out 'The aggregate of the amount of such of the sums, and the market value of such of the assets, representing the individual's rights under the arrangement as are applied to purchase the lifetime annuity' and insert 'RVF x P'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

228

Clause     205,     page     172,     line     27,     leave out '75' and insert '80'.


   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

260

Schedule     32,     page     450,     line     3,     leave out '75' and insert '80'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

261

Schedule     32,     page     450,     line     5,     leave out '75' and insert '80'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

262

Schedule     32,     page     450,     line     25,     leave out '75' and insert '80'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

407

Schedule     32,     page     451,     leave out lines 1 to 23.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

408

Schedule     32,     page     451,     line     27,     leave out 'the individual becomes entitled to it' and insert 'payment to the individual commences.

   

Mr Paul Boateng

434

*Schedule     32,     page     451,     line     29,     at end insert—

    '(2) If the amount of the pension which will be payable will or may be reduced so as to reflect the amount of any tax under section 204 to be paid by the scheme administrator, that reduction is to be left out of account in determining the amount of the pension which will be payable for the purposes of sub-paragraph (1).'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

409

Schedule     32,     page     451,     leave out lines 33 and 34.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

205

Schedule     32,     page     451,     line     33,     leave out 'pensioner'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

410

Schedule     32,     page     451,     line     35,     leave out 'increased' and insert 'percentage increase in the'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

411

Schedule     32,     page     451,     line     35,     after 'pensions', insert ', or that part of all scheme pensions,'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

206

Schedule     32,     page     451,     line     36,     leave out 'pensioner'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

412

Schedule     32,     page     451,     line     36,     at end add 'except pensioner members of a prescribed class'.

 
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Prepared 11 Jun 2004