|
|
|
|
(b) |
after
“this section” insert “to meet prescribed requirements”. |
|
|
39 |
In section 71A(4)(d)
(power to make provision in relation to applications for |
|
|
the purposes of that section)— |
|
|
(a) |
for “before
such time as may be prescribed” substitute “before
an |
|
|
application is made
for the purposes of this section”, and |
|
5 |
(b) |
for “an application
for the purposes of this section” substitute “the
|
|
|
|
|
40 |
In section 72A (reports
to Authority about winding up) omit subsection |
|
|
(9)(a) and “and”
immediately after it. |
|
|
41 |
In section 72C (duty
to comply with directions for facilitating winding up) |
|
10 |
|
|
42 |
In section 73 (preferential
liabilities on winding up)— |
|
|
(a) |
in subsection (1),
for “section 56” substitute “this section”, |
|
|
(b) |
after that subsection
insert— |
|
|
“(1A) |
This section applies to
an occupational pension scheme other |
|
15 |
|
|
(a) |
a
money purchase scheme, or |
|
|
(b) |
a
prescribed scheme or scheme of a prescribed |
|
|
|
|
(c) |
in subsection (6),
omit paragraph (a) and “and” immediately after it,
|
|
20 |
|
|
(d) |
in subsection (9)
for “section 56” substitute “this section”. |
|
|
43 |
In section 74 (discharge
of liabilities by insurance, etc)— |
|
|
(a) |
in subsection (1)
for “section 56” substitute “this section”,
and |
|
|
(b) |
after that subsection
insert— |
|
25 |
“(1A) |
This section applies to
an occupational pension scheme other |
|
|
|
|
(a) |
a
money purchase scheme, or |
|
|
(b) |
a
prescribed scheme or scheme of a prescribed |
|
|
|
30 |
44 |
In section 76 (excess
assets on winding up), in subsection (6) for “sections 3
|
|
|
and 10 apply” substitute
“section 10 applies”. |
|
|
45 |
In section 77 (excess
assets remaining after winding up: power to distribute), |
|
|
in subsection (5) for
“sections 3 and 10 apply” substitute “section
10 applies”. |
|
|
46 |
In section 87 (schedules
of payment to money purchase schemes) omit |
|
35 |
subsection (5)(a) and
“and” immediately after it. |
|
|
47 |
In section 88 (provision
supplementary to section 87) omit subsection (4)(a) |
|
|
and “and”
immediately after it. |
|
|
48 |
In section 89 (application
of further provisions to money purchase schemes, |
|
|
|
40 |
(a) |
for “sections
56 to 60” substitute “Part 3 of the Pensions Act 2004”,
|
|
|
|
|
(b) |
for “those
sections” substitute “that Part”. |
|
|
49 |
In section 118 (powers
to modify Part 1 of the Pensions Act 1995)— |
|
|
|
|
|
|
|
|
|
(a) |
in
subsection (2) for “to 26C” substitute “to 26”,
and |
|
|
|
|
50 |
In section 124(3A) (when
the winding up of a scheme begins) after “(3E)” |
|
|
insert “and to sections
25,
122
and 137
of the Pensions Act 2004”. |
|
|
Welfare Reform and
Pensions Act 1999 (c.30) |
|
5 |
51 |
The Welfare Reform and
Pensions Act 1999 is amended as follows. |
|
|
52 |
In section 1 (stakeholder
pension schemes), in subsection (6), after “members |
|
|
etc)” insert “and
of regulations under section 218
of the Pensions Act 2004 |
|
|
(combined pension forecasts)”. |
|
|
53 |
In section 2 (registration
of stakeholder pension schemes)— |
|
10 |
(a) |
in subsection (1)
for “Occupational Pensions Regulatory Authority |
|
|
(“the Authority”)”
substitute “Authority”, |
|
|
(b) |
in subsection (3)
after “may” insert “by direction”, and |
|
|
(c) |
in subsection (4)
for the words from “Section 3” to “Act applies”
|
|
|
substitute “Section
10 of the Pensions Act 1995 (“the 1995 Act”) (civil
|
|
15 |
penalties) applies
to any trustee of a pension scheme which or has |
|
|
been registered
under this section, and”. |
|
|
54 |
In section 38 (treatment
in winding up)— |
|
|
(a) |
in subsection (2),
for “section 56 of the Pensions Act 1995” substitute
|
|
|
|
20 |
(b) |
after that subsection
insert— |
|
|
“(2A) |
This section applies to
an occupational pension scheme other |
|
|
|
|
(a) |
a
money purchase scheme, or |
|
|
(b) |
a
prescribed scheme or a scheme of a prescribed |
|
25 |
|
|
55 (1) |
Paragraph 1 of Schedule
1 (application of enactments relating to |
|
|
occupational trust
schemes to certain stakeholder schemes) is amended as |
|
|
|
|
(2) |
In sub-paragraph
(2), in paragraph (b)— |
|
30 |
(a) |
in sub-paragraph
(ii) for “31” substitute “30”, |
|
|
(b) |
in sub-paragraph
(iii) for “except” to the end substitute “except
the |
|
|
reference to section
25(2) in section 32(4);”, |
|
|
(c) |
for sub-paragraph
(v) substitute— |
|
|
“(v) |
section 47 (professional
advisers);”, and |
|
35 |
(d) |
in sub-paragraph
(vii) for “section 50” substitute “sections
50 to 50B”. |
|
|
(3) |
After that paragraph
insert “; and |
|
|
(c) |
Chapters 4 and
5 of Part 2 of the Pensions Act 2004 (fraud |
|
|
compensation
and information gathering).”. |
|
|
(4) |
After sub-paragraph
(5) insert— |
|
40 |
“(6) |
Chapters 4 and 5 of
Part 2 of the Pensions Act 2004 (as applied by |
|
|
sub-paragraph
(1)) shall have effect with such modifications as the |
|
|
Secretary
of State may prescribe by regulations.”. |
|
|
|
|
|
|
|
|
|
56 |
In
Schedule 5, in paragraph 8(1)(b), for the words from “section
56” to |
|
|
“related schemes)”
substitute “Part 3 of the Pensions Act 2004 (scheme |
|
|
|
|
|
|
|
|
|
5 |
|
|
|
|
|
|
|
|
|
|
Parliamentary Commissioner
|
|
In Schedule 2, the
entries relating to— |
|
|
|
|
|
(a) |
the
Occupational Pensions Regulatory |
|
|
10 |
|
|
|
|
|
|
|
(b) |
the
Pensions Compensation Board. |
|
|
|
|
|
In Schedule 1, in Part
2, the entries relating to— |
|
|
|
|
Disqualification Act
1975 |
|
(a) |
the
Occupational Pensions Regulatory |
|
|
|
|
|
|
|
15 |
|
|
(b) |
the
Pensions Compensation Board. |
|
|
|
|
Northern Ireland Assembly
|
|
In Schedule 1, in Part
2, the entries relating to— |
|
|
|
|
Disqualification Act
1975 |
|
(a) |
the
Occupational Pensions Regulatory |
|
|
|
|
|
|
|
|
|
|
(b) |
the
Pensions Compensation Board. |
|
|
20 |
|
Tribunals and Inquiries
Act |
|
In Schedule 1, in Part
1, paragraph 35(g) and (h). |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
in
subsection (4), paragraphs (a) and (b) |
|
|
25 |
|
|
and
the word “and” in paragraph (c), |
|
|
|
|
|
(b) |
subsections
(4A) and (4B), and |
|
|
|
|
|
(c) |
in
subsection (8), the words “which must |
|
|
|
|
|
not
be earlier than the member’s 60th |
|
|
|
|
|
birthday”
in the definition of “the |
|
|
30 |
|
|
|
|
|
|
|
In section 29(1)(aa)(ii),
the words from “and is |
|
|
|
|
|
not” to “75th
birthday,”. |
|
|
|
|
|
|
|
|
|
|
|
|
35 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In section 131(b),
the words “payable at any |
|
|
|
|
|
|
|
40 |
|
|
In section 132, the
words from “or the |
|
|
|
|
|
voluntary” to
third “requirements”. |
|
|
|
|
|
Section 148(5)(ba)
and (bb). |
|
|
|
|
|
Section 149(1), (1A)
and (1B). |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(b) |
paragraph
(d) and the word “and” |
|
|
|
|
|
immediately
preceding it. |
|
|
5 |
|
|
|
|
|
|
|
In section 151(1),
paragraph (c) and the word |
|
|
|
|
|
“and” immediately
preceding it. |
|
|
|
|
|
|
|
|
|
|
(a) |
paragraphs
(ba) and (bb), and |
|
|
10 |
|
|
(b) |
in
paragraph (c) the words “any of |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In section 175, the
word “or” at the end of |
|
|
|
|
|
subsection (1)(b) and
subsections (4) to (7). |
|
|
15 |
|
|
In section 181(1),
the definition of “voluntary |
|
|
|
|
|
contributions requirements”. |
|
|
|
|
|
In Schedule 9, paragraphs
5 and 7(2). |
|
|
|
|
Pensions Act 1995 (c. 26) |
|
|
|
|
|
|
|
|
20 |
|
|
In section 7(1), the
words “a trustee of such a |
|
|
|
|
|
scheme ceases to be
a trustee”. |
|
|
|
|
|
|
|
|
|
|
In section 10(5)(a),
the words “as a trustee of a |
|
|
|
|
|
|
|
25 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In section 22(1)(b),
the word “or” at the end of |
|
|
|
|
|
|
|
30 |
|
|
In section 25(2),
the words from “but” to the |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
35 |
|
|
(a) |
subsections
(3), (4) and (5)(b), and |
|
|
|
|
|
(b) |
in
subsection (6), the words “or |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
in
subsection (2), paragraph (b) and the |
|
|
40 |
|
|
word
“or” immediately preceding it, and |
|
|
|
|
|
(b) |
subsections
(7) and (8). |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In section 38(2)(b),
the word “new”. |
|
|
45 |
|
|
|
|
|
|
|
In section 49, subsection
(10)(a) and the word |
|
|
|
|
|
“and” immediately
after it. |
|
|
|
|
|
|
|
|
|
|
In section 51(1),
the word “and” at the end of |
|
|
50 |
|
|
|
|
|
|
|
In section 54(3),
the definition of “appropriate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In section 71A(4),
paragraphs (f) and (g). |
|
|
55 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pensions Act 1995 (c. 26)—cont. |
|
Section 72A(9)(a)
and the word “and” |
|
|
|
|
|
|
|
|
|
|
Section 72B(7) and
(8)(b). |
|
|
|
|
|
|
|
5 |
|
|
Section 73(6)(a) and
the word “and” |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Section 87(5)(a) and
the word “and” |
|
|
10 |
|
|
|
|
|
|
|
Section 88(4)(a) and
the word “and” |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15 |
|
|
(a) |
at
the end of paragraph (b), the word |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In section 119, the
word “56(3),”. |
|
|
20 |
|
|
In section 124(1),
the definitions of “member- |
|
|
|
|
|
nominated director”,
“member-nominated |
|
|
|
|
|
trustee” and
“minimum funding |
|
|
|
|
|
|
|
|
|
|
|
|
25 |
|
|
In section 162(1),
the word “and” at the end of |
|
|
|
|
|
|
|
|
|
|
In section 163(3),
the definition of “appropriate |
|
|
|
|
|
|
|
|
|
|
In section 178(2),
the words “1, 2, 21(3)” and “78, |
|
|
30 |
|
|
|
|
|
|
|
|
|
|
|
|
In Schedule 4, paragraph
21(14). |
|
|
|
|
Bank of England Act
1998 (c. 11) |
|
In Part 4 of Schedule
5, paragraph 71. |
|
|
|
|
Social Security Contributions
|
|
In Schedule 1, paragraphs
67 and 68. |
|
|
35 |
|
(Transfer of Functions,
etc.) |
|
|
|
|
|
|
|
|
|
|
Welfare Reform and
Pensions |
|
|
|
|
|
|
|
|
|
|
|
|
|
40 |
|
|
|
|
|
|
|
|
|
|
|
|
(b) |
in
paragraph 1(2)(b)(i) “, 13” and “, |
|
|
|
|
|
|
|
|
|
|
(c) |
paragraph
1(2)(b)(ix) and (xii), and |
|
|
45 |
|
|
|
|
|
|
|
In Schedule 2, paragraphs
9, 13 to 15. |
|
|
|
|
|
In Schedule 12, paragraphs
44, 45 to 49 and 60. |
|
|
|
|
Child Support, Pensions
and |
|
In section 42(7),
the word “and” at the end of |
|
|
|
|
|
|
|
50 |
|
|
|
|
|
|
|
Section 47(1), (2)
and (4). |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Child Support, Pensions
and |
|
|
|
|
|
|
(a) |
paragraph 3(3) and (4), and |
|
|
|
|
|
(b) |
paragraph
12(2), (3) and (4). |
|
|
|
|
|
In Schedule 9, Part
3(10). |
|
|
5 |
|
Anti-terrorism, Crime
and |
|
In Part 1 of Schedule
4, paragraph 37. |
|
|
|
|
Security Act 2001 (c. 24) |
|
|
|
|
|
|
|
The repeals in sections
148, 149 and 151 of the Pension Schemes Act 1993 (c. |
|
|
48) relate to those provisions
as amended by section 54 of the Child Support, |
|
|
Pensions and Social Security
Act 2000 (c. 19) to the extent that those |
|
10 |
amendments have been brought
into force for the purpose of making |
|
|
|
|
|
|
|
|
|
|
|
|
15 |
|
Pensions (Northern
Ireland) |
|
|
|
|
|
Order 1995 (S.I. 1995/3213
|
|
|
|
|
|
|
|
|
|
|
|
|
|