Amendments proposed to the Pensions Bill - continued House of Commons

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Mr Secretary Smith

116

Page     104,     line     37     [Clause     156],     at end insert—

      '( )  any sums required to meet any liabilities arising from obligations imposed on the Board by a restoration order under section [Restoration orders where transactions at an undervalue],'.

   

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,'.

   

Mr Secretary Smith

118

Page     104,     line     42     [Clause     156],     leave out 'payable' and insert 'to be paid or transferred'.

   

Mr Secretary Smith

119

Page     104,     line     42     [Clause     156],     at end insert—

    '( )   In subsection (1) (other than paragraph (d)) and subsection (3) (other than paragraph (c)) any reference to a provision of this Act is to be read as including a reference to any provision in force in Northern Ireland corresponding to that provision.'.


   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Andrew Rosindell

33

Page     105,     line     5     [Clause     157],     after 'regulations', insert ', which shall be no earlier than the day on which the basis for calculating the risk-based levy in the first financial year after the initial period has been published.'.

   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Andrew Rosindell

34

Page     105,     line     6     [Clause     157],     leave out '12' and insert '6'.

   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Andrew Rosindell

35

Page     105,     line     27     [Clause     158],     after 'liabilities', insert—

      '(ia) the likelihood of an insolvency event occurring in relation to the employer in relation to a scheme,'.

   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Andrew Rosindell

36

Page     105,     line     33     [Clause     158],     leave out paragraph (a).


   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Andrew Rosindell

37

Page     107,     line     10     [Clause     160],     leave out '50%' and insert '75%'.

   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Andrew Rosindell

38

Page     107,     line     43     [Clause     161],     at end insert 'save that in the first year, the levy ceiling will be no higher than £600 million'.


   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Andrew Rosindell

39

Page     109,     line     31     [Clause     163],     leave out from 'means' to end of line 33 and insert 'a period of time no longer than two years after the initial period begins.'.

   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Andrew Rosindell

40

Page     109,     line     41     [Clause     164],     at end insert—

    '( )   The trustees or managers of the scheme may charge a sum at least equivalent to the non-risked based amount of the levy to all scheme members.'.


   

Mr Secretary Smith

120

Page     110,     line     27     [Clause     165],     after 'not' insert 'a prescribed scheme or a scheme'.


   

Mr Secretary Smith

121

Page     116,     line     5     [Clause     171],     at end insert—

    '( )   In subsection (1) (other than paragraphs (a) and (e)) and subsection (3) (other than paragraphs (a) and (e)) any reference to a provision of this Act is to be read as including a reference to any provision in force in Northern Ireland corresponding to that provision.'.

   

Mr Secretary Smith

122

Page     116,     line     11     [Clause     172],     after 'is' insert 'prescribed or'.


   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Andrew Rosindell

41

Page     117,     line     8     [Clause     173],     at end insert 'and in so far as the information is relevant to the discharge of its function.'.


   

Mr Harry Barnes

189

Page     119,     line     35     [Clause     177],     leave out 'or any corresponding provision in force in Northern Ireland'.


   

Mr Harry Barnes

190

Page     120,     line     6     [Clause     177],     leave out 'or any corresponding provision in force in Northern Ireland'.


NEW CLAUSES RELATING TO PART 6

Annual update linked to earnings

   

Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Andrew Rosindell

NC1

To move the following Clause:—

       'The Secretary of State shall each year increase the basic retirement pension by not less than an amount equivalent to—

      (a) the percentage increase in the general level of earnings during the preceding year; or

      (b) the percentage increase in the retail price index during the preceding year,

       whichever is the greater.'.


State pension rights of individuals with incomplete contribution records (No. 2)

   

Steve Webb
Paul Holmes

NC37

*To move the following Clause:—

    '(1)   Regulation 6 of the Social Security (Widow's Benefit and Retirement Pensions) Regulations 1979 (S.I. 1979/642), as amended, is further amended as follows.

    (2)   In paragraph (1) leave out "Subject to paragraph (2) of this regulation, where" and insert "Where".

    (3)   In paragraph (1) the proviso is omitted.

    (4)   Paragraph (2) is omitted.

    (5)   In paragraph (3B), leave out "paragraphs (1), (2), (3), (a) and (c)(i)" and insert "paragraphs (3)(a) and (c)(i).".'.


Post-legislative review

   

Mr Elfyn Llwyd
Mr Simon Thomas
Hywel Williams

NC38

*To move the following Clause:—

    1.   Within a year of the date specified in subsection (2) a commission shall be appointed in accordance with the provision of subsection (3) to conduct an independent review into pensions.

    2.   The date specified in this subsection is the first day in which the Act receives Royal Assent.

    3.   The Commission shall consist of

      (a) A chairman appointed by the Secretary of State, and

      (b) Such number or other members appointed by the Secretary of State as the Secretary of state thinks fit, and

    4.   The review shall, in particular, consider poverty and the benefits or otherwise of increasing the retirement pension by not less than an amount equivalent to

      (a) the percentage increase in the general level of earnings during the preceding year; or

      (b) the percentage increase in the retail price index during the preceding year.'.


NEW CLAUSES RELATING TO PART 7

Application to Northern Ireland

   

Mr David Trimble
Mr Roy Beggs

NC32

To move the following Clause:—

    '(1)   This Act extends to Northern Ireland.

    (2)   The Secretary of State may by order make such modifications to this Act or other legislation as are necessary in the application of this Act to Northern Ireland.'.


   

Mr Secretary Smith

127

Page     191,     line     11     [Clause     264],     at end insert—

      '( ) any direction issued by the Regulator under section 38(4);'.

   

Mr Secretary Smith

128

Page     191,     line     11     [Clause     264],     at end insert—

      '( ) any direction issued by the Regulator under section 45(4);'.


   

Mr Secretary Smith

129

Page     192,     line     3     [Clause     265],     at end insert—

    '(2A)   Regulations may also modify any of the provisions of Part 2 as it applies in relation to an eligible scheme in respect of which a relevant public authority has—

      (a) given a guarantee in relation to any part of the scheme, any benefits payable under the scheme or any member of the scheme, or

      (b) made any other arrangements for the purposes of securing that the assets of the scheme are sufficient to meet any part of its liabilities.'.

   

Mr Secretary Smith

130

Page     192,     line     4     [Clause     265],     at end insert—

' "eligible scheme" has the meaning given in section 113;'.   

Mr Secretary Smith

131

Page     192,     line     12     [Clause     265],     at end insert—

' "relevant public authority" means—

      (a) a Minister of the Crown (within the meaning of the Ministers of the Crown Act 1975 (c.26)),

      (b) a government department (including any body or authority exercising statutory functions on behalf of the Crown), or

      (c) the Scottish Ministers.'.


   

Mr Harry Barnes

191

Page     193,     line     42     [Clause     267],     leave out paragraph (e).



 
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Prepared 18 May 2004