|
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Andrew Rosindell
25
Page 67, line 32 [Clause 97], at end insert—
'(4A) Any person appointed as an ordinary member shall have knowledge and understanding of—
| (a) | the law relating to pensions and trusts, |
| (b) | the principles relating to— |
| (i) | the funding of occupational pension schemes, and |
| (ii) | investment of the assets of such schemes, and |
| (c) | such other matters as may be prescribed'. |
Mr Secretary Smith
97
Page 68, line 19 [Clause 99], after 'Part' insert 'and any provision in force in Northern Ireland corresponding to it'.
Mr Secretary Smith
Mr Harry Barnes
98
Page 70, line 1 [Clause 102], leave out from 'Fund)' to end of line 2.
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
212
Page 76, line 27 [Clause 113], leave out subsection (2).
Mr Secretary Smith
99
Page 79, line 41 [Clause 118], after 'in' insert 'sections [Reviewable ill health pensions] to [Interpretation of sections [Reviewable ill health pensions] and [Effect of review]] and'.
Mr Secretary Smith
100
Page 83, line 24 [Clause 124], leave out 'owed' and insert 'due'.
Mr Secretary Smith
101
Page 84, line 7 [Clause 125], leave out 'for that period'.
Mr Secretary Smith
102
Page 84, line 16 [Clause 125], after 'pension' insert 'or payment of a member's lump sum'.
Mr Secretary Smith
103
Page 84, line 19 [Clause 125], at end insert—
'(4A) For the purposes of subsection (4)—
| (a) | "normal pension age", in relation to an eligible scheme and any pension or other benefit under it, means the age specified in the scheme rules as the earliest age at which the pension or other benefit becomes payable without actuarial adjustment (disregarding any scheme rule making special provision as to early payment on the grounds of ill health), and |
| (b) | where different ages are so specified in relation to different parts of a pension or other benefit— |
| (i) | subsection (4) has effect as if those parts were separate pensions or, as the case may be, benefits, and |
| (ii) | in relation to a part of a pension or other benefit, the reference in that subsection to normal pension age is to be read as a reference to the age specified in the scheme rules as the earliest age at which that part becomes so payable. |
(4B) In subsection (4A) "scheme rules" has the meaning given by section 134(7).'.
Mr Secretary Smith
104
Page 85, line 13 [Clause 127], leave out from second 'valuation' to end of line 15 and insert 'of the assets and protected liabilities of the scheme which—
| (a) | is in the prescribed form and contains the prescribed information, and |
| (b) | is prepared and signed by a person with prescribed qualifications;'. |
Mr Secretary Smith
105
Page 85, line 32 [Clause 127], at end insert—
'( ) In a case where there are one or more reviewable ill health pensions (within the meaning of section [Reviewable ill health pensions]) under the scheme, nothing in subsection (2) requires the actuarial valuation to be obtained during the period mentioned in section [Effect of review](5)(b) (period during which Board may exercise its power to make a decision following a review) relating to any such pension.'.
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Andrew Rosindell
22
Page 86, line 3 [Clause 128], at end insert 'and—
| ( ) | recognised trade unions and organisations representing the pensioner members of the scheme.'. |
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Andrew Rosindell
23
Page 87, line 34 [Clause 131], at end insert 'and—
| ( ) | recognised trade unions and organisations representing the pensioner members of the scheme'. |
Steve Webb
219
*Page 90 [Clause 134], leave out lines 14 to 16 and insert—
| '(b) | audited accounts covering the period from the date of the latest statutory annual accounts of the scheme to a date no later than three months prior to the day the application is made.'. |
Mr Secretary Smith
106
Page 91, line 4 [Clause 134], leave out from 'as' to 'overrides' in line 6 and insert '—
| (i) | paragraph 3 of Schedule 5 to the Social Security Act 1989 (c.24), |
| (ii) | section 129 of the Pension Schemes Act 1993 (c.48), |
| (iii) | section 117 of the Pensions Act 1995 (c.26), |
| (iv) | section 31(4) of the Welfare Reform and Pensions Act 1999 (c.30) (pension debits: reduction of benefit), or |
| (v) | section 264 of this Act,'. |
Mr Secretary Smith
110
Page 95, line 1 [Clause 138], at end insert—
| '( ) | section [Content and effect of a section [Contribution notice where failure to comply with restoration order] contribution notice](5) and (6) (Board to act as creditor for debt due by virtue of a contribution notice under section [Contribution notice where failure to comply with restoration order]);'. |
Mr Secretary Smith
109
Page 95, line 1 [Clause 138], at end insert—
| '( ) | section [Content and effect of a restoration order](5) and (6) (Board to act as creditor for debt due by virtue of a restoration order under section [Restoration orders where transactions at an undervalue]);'. |
Mr Secretary Smith
107
Page 95, line 1 [Clause 138], at end insert—
| '( ) | section 37(5) and (6) (Board to act as creditor for debt due by virtue of a contribution notice under section 35);'. |
Mr Secretary Smith
108
Page 95, line 1 [Clause 138], at end insert—
| '( ) | section 44(5) and (6) (Board to act as creditor for debt due by virtue of a contribution notice under section 42);'. |
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Andrew Rosindell
24
Page 98, line 4 [Clause 143], after 'Regulator,', insert—
| ( ) | recognised trade unions and organisations representing the pensioner members of the scheme'. |
Mr Secretary Smith
111
Page 99, line 5 [Clause 145], leave out second 'section' and insert 'sections [Reviewable ill health pensions] to [Interpretation of sections [Reviewable ill health pensions] and [Effect of review]] and'.
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Andrew Rosindell
32
Page 101, line 37 [Clause 152], at end insert—
| '(d) | by agreeing that the purchase of annuities in respect of an occupational pension scheme which is in the process of being wound up can be postponed, and that relevant benefits may be discharged by the Board.'. |
Mr Secretary Smith
114
Page 104, line 15 [Clause 156], at end insert—
| '( ) | any amount paid to the Board in respect of a debt due to the Board under section [Content and effect of a section [Contribution notices where failure to comply with restoration order] contribution notice](7) by virtue of a contribution notice under section [Contribution notices where failure to comply with restoration order],'. |
Mr Secretary Smith
113
Page 104, line 15 [Clause 156], at end insert—
| '( ) | any property transferred or amounts paid to the Board as required by a restoration order under section [Restoration orders where transactions at an undervalue],'. |
Mr Secretary Smith
112
Page 104, line 15 [Clause 156], at end insert—
| '( ) | any amount paid to the Board in respect of a debt due to the Board under section 37(7) by virtue of a contribution notice under section 35,'. |
Mr Secretary Smith
115
Page 104, line 22 [Clause 156], leave out 'payable' and insert 'to be paid or transferred'.
Mr Secretary Smith
117
Page 104, line 37 [Clause 156], at end insert—
| '( ) | any property (other than sums) required to meet any liabilities— |
| (i) | transferred to the Board as mentioned in paragraph (a) and arising from obligations imposed by a restoration order under section [Restoration orders where transactions at an undervalue], or |
| (ii) | arising from obligations imposed on the Board by such an order,'. |
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