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Pensions Bill


Pensions Bill
Schedule 12 — Minor and consequential amendments

275

 

(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

application”.

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

omit subsection (2).

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

than—

(a)   

a money purchase scheme, or

(b)   

a prescribed scheme or scheme of a prescribed

description.”,

(c)   

in subsection (6), omit paragraph (a) and “and” immediately after it,

20

and

(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

than—

(a)   

a money purchase scheme, or

(b)   

a prescribed scheme or scheme of a prescribed

description.”

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,

in subsection (1)(a)—

40

(a)   

for “sections 56 to 60” substitute “Part 3 of the Pensions Act 2004”,

and

(b)   

for “those sections” substitute “that Part”.

49         

In section 118 (powers to modify Part 1 of the Pensions Act 1995)—

 

 

Pensions Bill
Schedule 12 — Minor and consequential amendments

276

 

(a)   

in subsection (2) for “to 26C” substitute “to 26”, and

(b)   

omit subsection (3).

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

“this section”, and

20

(b)   

after that subsection insert—

“(2A)   

This section applies to an occupational pension scheme other

than—

(a)   

a money purchase scheme, or

(b)   

a prescribed scheme or a scheme of a prescribed

25

description.”

55    (1)  

Paragraph 1 of Schedule 1 (application of enactments relating to

occupational trust schemes to certain stakeholder schemes) is amended as

follows.

      (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.”.

 

 

Pensions Bill
Schedule 13 — Repeals and revocations
Part 1 — Repeals

277

 

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

funding)”.

Schedule 13

Section 277

 

Repeals and revocations

5

Part 1

Repeals

 

Short title and chapter

Extent of repeal

 
 

Parliamentary Commissioner

In Schedule 2, the entries relating to—

 
 

Act 1967 (c. 13)

(a)   

the Occupational Pensions Regulatory

 

10

   

Authority, and

 
   

(b)   

the Pensions Compensation Board.

 
 

House of Commons

In Schedule 1, in Part 2, the entries relating to—

 
 

Disqualification Act 1975

(a)   

the Occupational Pensions Regulatory

 
 

(c.24)

Authority, and

 

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

 
 

(c.25)

Authority, and

 
   

(b)   

the Pensions Compensation Board.

 

20

 

Tribunals and Inquiries Act

In Schedule 1, in Part 1, paragraph 35(g) and (h).

 
 

1992 (c. 53)

   
 

Pension Schemes Act 1993

Section 6.

 
 

(c. 48)

In section 28—

 
   

(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

   

starting date”.

 
   

In section 29(1)(aa)(ii), the words from “and is

 
   

not” to “75th birthday,”.

 
   

Section 99(6).

 
   

Section 101J(3).

 

35

   

Section 111.

 
   

Section 111A(10).

 
   

Section 111B.

 
   

In section 131(b), the words “payable at any

 
   

earlier time or”.

 

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).

 
 

 

Pensions Bill
Schedule 13 — Repeals and revocations
Part 1 — Repeals

278

 
 

Short title and chapter

Extent of repeal

 
 

Pension Schemes Act 1993

In section 149(3)—

 
 

(c. 48)—cont.

(a)   

paragraph (ba), and

 
   

(b)   

paragraph (d) and the word “and”

 
   

immediately preceding it.

 

5

   

Section 149(8).

 
   

In section 151(1), paragraph (c) and the word

 
   

“and” immediately preceding it.

 
   

In section 151(3)—

 
   

(a)   

paragraphs (ba) and (bb), and

 

10

   

(b)   

in paragraph (c) the words “any of

 
   

paragraphs (a) to (bb).”

 
   

Section 168A.

 
   

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)

Sections 1 and 2.

 
   

Section 5.

 

20

   

In section 7(1), the words “a trustee of such a

 
   

scheme ceases to be a trustee”.

 
   

Section 7(4).

 
   

In section 10(5)(a), the words “as a trustee of a

 
   

trust scheme”.

 

25

   

Section 11(3).

 
   

Section 13.

 
   

Sections 16 to 21.

 
   

In section 22(1)(b), the word “or” at the end of

 
   

sub-paragraph (i).

 

30

   

In section 25(2), the words from “but” to the

 
   

end.

 
   

Sections 26A to 26C.

 
   

Section 28(4).

 
   

In section 29—

 

35

   

(a)   

subsections (3), (4) and (5)(b), and

 
   

(b)   

in subsection (6), the words “or

 
   

revocation made”.

 
   

In section 30—

 
   

(a)   

in subsection (2), paragraph (b) and the

 

40

   

word “or” immediately preceding it, and

 
   

(b)   

subsections (7) and (8).

 
   

Section 30A.

 
   

Section 31.

 
   

In section 38(2)(b), the word “new”.

 

45

   

Section 48.

 
   

In section 49, subsection (10)(a) and the word

 
   

“and” immediately after it.

 
   

Section 49A(4).

 
   

In section 51(1), the word “and” at the end of

 

50

   

paragraph (a).

 
   

In section 54(3), the definition of “appropriate

 
   

percentage”.

 
   

Sections 56 to 61.

 
   

In section 71A(4), paragraphs (f) and (g).

 

55

 

 

Pensions Bill
Schedule 13 — Repeals and revocations
Part 1 — Repeals

279

 
 

Short title and chapter

Extent of repeal

 
 

Pensions Act 1995 (c. 26)—cont.

Section 72A(9)(a) and the word “and”

 
   

immediately after it.

 
   

Section 72B(7) and (8)(b).

 
   

Section 72C(2).

 

5

   

Section 73(6)(a) and the word “and”

 
   

immediately after it.

 
   

Section 75(9).

 
   

Sections 78 to 86.

 
   

Section 87(5)(a) and the word “and”

 

10

   

immediately after it.

 
   

Section 88(4)(a) and the word “and”

 
   

immediately after it.

 
   

Sections 96 to 114.

 
   

In section 117(2)—

 

15

   

(a)   

at the end of paragraph (b), the word

 
   

“or”, and

 
   

(b)   

paragraph (c).

 
   

Section 118(3).

 
   

In section 119, the word “56(3),”.

 

20

   

In section 124(1), the definitions of “member-

 
   

nominated director”, “member-nominated

 
   

trustee” and “minimum funding

 
   

requirement”.

 
   

Section 134(3).

 

25

   

In section 162(1), the word “and” at the end of

 
   

paragraph (a).

 
   

In section 163(3), the definition of “appropriate

 
   

percentage”.

 
   

In section 178(2), the words “1, 2, 21(3)” and “78,

 

30

   

79, 80(4)”.

 
   

Schedules 1 and 2.

 
   

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.)

   
 

Act 1999 (c. 2)

   
 

Welfare Reform and Pensions

Section 2(5) and (6).

 
 

Act 1999 (c. 30)

Sections 4 and 5.

 
   

Section 50(2).

 

40

   

In Schedule 1—

 
   

(a)   

paragraph 1(2)(a),

 
   

(b)   

in paragraph 1(2)(b)(i) “, 13” and “,

 
   

11(3)(c)”,

 
   

(c)   

paragraph 1(2)(b)(ix) and (xii), and

 

45

   

(d)   

paragraphs 2 and 3.

 
   

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

 
 

Social Security Act 2000

paragraph (c).

 

50

 

(c. 19)

Sections 43 to 46.

 
   

Section 47(1), (2) and (4).

 
   

Section 54.

 
 

 

Pensions Bill
Schedule 13 — Repeals and revocations
Part 2 — Revocations

280

 
 

Short title and chapter

Extent of repeal

 
 

Child Support, Pensions and

In Schedule 5—

 
 

Social Security Act 2000

(a)   

paragraph 3(3) and (4), and

 
 

(c. 19)—cont.

(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

regulations and rules.

Part 2

Revocations

 

Title and number

Extent of revocation

 

15

 

Pensions (Northern Ireland)

Article 78(4).

 
 

Order 1995 (S.I. 1995/3213

   
 

(N.I. 22))

   
 

 

 
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