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

358

Schedule     29,     page     438,     leave out lines 27 and 28.

   

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

253

Schedule     29,     page     438,     line     27,     leave out '75' and insert '80'.

   

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

359

Schedule     29,     page     438,     leave out lines 34 and 35.

   

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

254

Schedule     29,     page     438,     line     34,     leave out '75' and insert '80'.

   

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

255

Schedule     29,     page     439,     line     3,     leave out '75' and insert '80'.

   

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

256

Schedule     29,     page     439,     line     12,     leave out '75' and insert '80'.

   

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

257

Schedule     29,     page     439,     line     31,     leave out '75' and insert '80'.

   

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

360

Schedule     29,     page     440,     leave out lines 24 and 25.

   

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

258

Schedule     29,     page     440,     line     24,     leave out '75' and insert '80'.

   

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

361

Schedule     29,     page     440,     leave out lines 28 and 29.

   

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

259

Schedule     29,     page     440,     line     29,     leave out '75' and insert '80'.


   

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

269

Clause     160,     page     142,     line     24,     after 'salaries', insert ', benefits'.

   

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

270

Clause     160,     page     142,     line     29,     at end add 'except in prescribed circumstances'.


   

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

279

Clause     161,     page     142,     line     40,     after 'provision', insert 'or in prescribed circumstances,'.

   

Mr Paul Boateng

317

Clause     161,     page     142,     line     41,     leave out 'the member's personal representatives' and insert 'to the member's personal representatives in respect of the member'.

   

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

280

Clause     161,     page     143,     line     6,     after 'provision', insert 'or in prescribed circumstances,'.

   

Mr Paul Boateng

318

Clause     161,     page     143,     line     7,     leave out 'member'.


   

Mr Paul Boateng

319

Clause     162,     page     143,     line     38,     leave out 'the' and insert 'a'.

   

Mr Paul Boateng

320

Clause     162,     page     143,     line     38,     at end insert—

    '(3A)   A registered pension scheme is to be treated as having made an unauthorised payment in respect of a member of the pension scheme if after the member's death an asset held for the purposes of the pension scheme is used to provide a benefit (other than a payment) to a person who, at the date of the member's death, was a member of the member's family or household.

    (3B)   The person who receives the benefit is to be treated as having received the unauthorised payment.

    (3C)   If the benefit is received by reason of an employment which is not an excluded employment, subsections (3A) and (3B) do not apply.

    (3D)   If the benefit is received by reason of an excluded employment, subsections (3A) and (3B) only apply if—

      (a) paragraphs (a) and (b) of subsection (3) apply, and

      (b) at the date of the member's death the member, or a member of the member's family or household, was a director of, and had a material interest in, a sponsoring employer.'.

   

Mr Paul Boateng

321

Clause     162,     page     143,     line     39,     leave out 'the unauthorised payment' and insert 'an unauthorised payment treated as having been made by this section'.


   

Mr Paul Boateng

322

Clause     163,     page     144,     line     22,     at end insert—

    '(1A)   But if the event or the change in the value of the currency occurs after the member's death—

      (a) the pension scheme is to be treated as having made an unauthorised payment in respect of the member (rather than to the member), and

      (b) the person who holds the asset or is subject to the liability in relation to which subsection (1)(b) is satisfied is to be treated as having received the unauthorised payment.'.


   

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

281

Clause     168,     page     145,     line     26,     at end insert—

    '(2)   A registered scheme may only make a loan to or in respect of a sponsoring employer if it is an authorised employer loan and the registered scheme is of a description which meets such additional conditions as may be prescribed.'.


   

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

275

Schedule     30,     page     441,     line     28,     at end insert 'or that all the members agree that the charge does not have to take priority over any other charge'.


   

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

277

Clause     169,     page     146,     line     29,     at end insert 'except in prescribed circumstances'.

   

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

276

Clause     169,     page     146,     line     30,     after 'salaries', insert ', benefits'.


   

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

278

Clause     171,     page     148,     line     31,     leave out subsection (6).

   

Mr Paul Boateng

426

Clause     171,     page     148,     line     32,     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

271

Clause     171,     page     148,     line     35,     leave out 'other than a cash balance arrangement'.

   

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

272

Clause     171,     page     148,     line     40,     leave out subsection (8).


   

Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

423

Clause     175,     page     150,     line     40,     at end insert 'but only to the extent that the investments are prescribed as being investments which such a registered pension scheme may hold.'.

   

Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

424

Clause     175,     page     151,     line     4,     at end add—

    '(5)   No registered pension scheme may hold investments which are not prescribed as being investments which such a registered pension scheme may hold and section 10 of the Pensions Act 1995 applies to any scheme administrator or trustee of a registered pension scheme who has failed to take reasonable steps to ensure that that registered pension scheme holds only prescribed investments.'.


   

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

201

Clause     177,     page     151,     line     28,     leave out 'an active' and insert 'a'.

   

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

227

Clause     177,     page     151,     line     36,     leave out '75' and insert '80'.


   

Mr Paul Boateng

323

Clause     178,     page     152,     line     47,     at end insert—

    '(2A)   For the purposes of this section and section 179 relevant UK earnings are to be treated as not being chargeable to income tax if, in accordance with arrangements having effect by virtue of section 788 of ICTA (double taxation agreements), they are not taxable in the United Kingdom.'.


   

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

273

Clause     185,     page     157,     line     27,     after 'contributions', insert '(which includes payment of money, a transfer of assets or any other transfer of money's worth)'.

 
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Prepared 15 Jun 2004