Amendments proposed to the Finance Bill - continued House of Commons

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Mr Paul Boateng

454

*Clause     223,     page     186,     line     6,     leave out from first 'the' to end of line 7 and insert 'annual rate of the pension which would, on the valuation assumptions, be payable to the individual under the arrangement if the individual became'.

   

Mr Paul Boateng

455

*Clause     223,     page     186,     line     9,     leave out from 'would' to 'entitled' in line 11 and insert ', on the valuation assumptions, be entitled under the arrangement (otherwise than by commutation of pension) if the individual became'.


   

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

422

Clause     224,     page     186,     line     17,     leave out from '223(4)' to end of line 18.


   

Mr Paul Boateng

456

*Clause     228,     page     189,     line     3,     leave out subsection (4).


   

Mr Paul Boateng

457

*Clause     236,     page     194,     line     11,     leave out from 'to"' to end of line 12.


   

Mr Paul Boateng

458

*Clause     237,     page     196,     line     15,     leave out 'payment' and insert 'provision'.


   

Mr Paul Boateng

459

*Clause     238,     page     197,     line     4,     after 'Revenue' insert ', in a form specified by the Board of Inland Revenue,'.

   

Mr Paul Boateng

460

*Clause     238,     page     197,     line     19,     leave out 'payment' and insert 'provision'.

   

Mr Paul Boateng

461

*Clause     238,     page     197,     line     39,     leave out 'paid' and insert 'provided'.


   

Mr Paul Boateng

462

*Clause     239,     page     198,     line     27,     leave out 'payment' and insert 'provision'.

   

Mr Paul Boateng

463

*Clause     239,     page     198,     line     43,     at end insert—

    '(7A)   In subsection (7) "responsible person" has the same meaning as in Chapter 2 of Part 6 of ITEPA 2003 (see section 399A of that Act).'.


   

Mr Paul Boateng

464

*Clause     242,     page     200,     line     42,     leave out from 'provision' to end of line 43 and insert 'for and in connection with the making of assessments in respect of—

      (a) the unauthorised payments charge,

      (b) the unauthorised payments surcharge,

      (c) liability to the lifetime allowance charge under section 206(2) (person to whom lump sum death benefit paid),

      (d) the scheme sanction charge,

      (e) liability under section 259 (trustees etc. liable as scheme administrator),

      (f) liability under section 260 (member liable as scheme administrator), and

      (g) liability under section 394 of ITEPA 2003 (benefit under employer-financed retirement benefits scheme: charge on responsible person).'.


   

Mr Paul Boateng

465

*Clause     244,     page     201,     line     41,     leave out '£300' and insert '£100'.


   

Mr Paul Boateng

466

*Clause     246,     page     202,     line     24,     leave out 'of' and insert 'not exceeding'.


   

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

419

Clause     254,     page     206,     line     21,     leave out 'and (b)' and insert 'or

      (b) the scheme administrator reasonably believed that the liability would be met by another person, and in either case,

      (c)'. 


   

Mr Paul Boateng

467

*Clause     259,     page     211,     line     33,     leave out subsection (6).


   

Mr Paul Boateng

468

*Clause     260,     page     212,     line     10,     leave out ', and is assessable accordingly,'.

   

Mr Paul Boateng

469

*Clause     260,     page     212,     line     21,     leave out from 'as,' to second 'the' in line 23 and insert 'is held for the purposes of such of the arrangements under the pension scheme as relate to'.

   

Mr Paul Boateng

470

*Clause     260,     page     212,     line     41,     leave out 'made by virtue of' and insert 'in respect of a liability under'.

   

Mr Paul Boateng

471

*Clause     260,     page     213,     line     1,     leave out 'a' and insert 'an occupational'.

   

Mr Paul Boateng

472

*Clause     260,     page     213,     line     4,     leave out 'is' and insert 'was'.


   

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

420

Clause     263,     page     214,     line     9,     leave out '20' and insert 'the number 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

421

Clause     263,     page     214,     line     13,     leave out 'than 20' and add 'or less than the appropriate number certified by the Government under subsection (1).'.


   

Mr Paul Boateng

326

Clause     266,     page     215,     line     32,     at end insert—

'"NIA 1965" means the National Insurance Act 1965 (c. 51),"NIA(NI) 1966" means the National Insurance Act (Northern Ireland) 1966 (c. 6 (N.I.)),'.   

Mr Paul Boateng

327

Clause     266,     page     215,     line     35,     at end insert—

'"SSCBA 1992" means the Social Security Contributions and Benefits Act 1992 (c.4),"SSCB(NI)A 1992" means the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c.7),'.   

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

203

Clause     266,     page     216,     leave out line 1.

   

Mr Paul Boateng

328

Clause     266,     page     216,     line     11,     leave out 'the individual's' and insert 'a person's'.

   

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

288

Clause     266,     page     216,     leave out lines 19 and 20.

   

Mr Paul Boateng

329

Clause     266,     page     217,     leave out line 16.

   

Mr Paul Boateng

330

Clause     266,     page     217,     line     21,     at end insert—

'lifetime allowance (in relation to a person)section 207'.
   

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

204

Clause     266,     page     218,     leave out lines 23 and 24.

   

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

199

Clause     266,     page     218,     line     25,     at end insert—

'personal pension schemeSection 1 of the Pension Schemes Act 1993.'.
   

Mr Paul Boateng

473

*Clause     266,     page     219,     line     30,     at end insert—

'unauthorised payments chargesection 197(1)'.
   

Mr Paul Boateng

474

*Clause     266,     page     219,     line     35,     at end insert—

'valuation assumptions (in relation to a person)section(Valuation assumptions)'.


   

Mr Paul Boateng

475

*Clause     267,     page     220,     line     10,     leave out from 'revocations)' to end of line 11 and insert 'as may appear appropriate in consequence of, or otherwise in connection with, this Part—

      (a) in any enactment contained in an Act passed before 6th April 2006 or in the Session in which that date falls, and

      (b) in any instrument made before that date or in the Session in which that date falls.'.


   

Mr Paul Boateng

476

*Schedule     33,     page     458,     line     7,     after 'paragraph' insert 'do'.

   

Mr Paul Boateng

477

*Schedule     33,     page     458,     line     9,     after 'applies' insert 'does'.


   

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

371

Schedule     34,     page     465,     line     3,     leave out sub-paragraph (2) and insert—

    '(2)   Any modifications of the rules of a pension scheme made by the regulations have effect until the first date after 5th April 2006 on which amendments of the provisions of the pension scheme referring (however expressed) to any limit contained in, or relevant in relation to approval under or for the purposes of, any provision of Part 14 of ICTA (pension schemes etc.) as it has effect at any time before 6th April 2006.'.

   

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

372

Schedule     34,     page     465,     line     16,     at end insert—

      '(c) modifications to give power, in prescribed circumstances, to prescribed persons to make prescribed amendments to pension schemes irrespective of whether such amendments would otherwise be provided by the rules of the pension scheme, the Pensions Act 1995 or otherwise.'.

 
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Prepared 11 Jun 2004