|
Mr Secretary Smith
157
Page 271, line 35 [Schedule 12], at end insert—
| | '. | In section 61 (deduction of contributions equivalent premium from refund of scheme contributions), after subsection (9) insert— |
"(9A) Where under section 101AH the trustees or managers of an occupational pension scheme may pay a contribution refund to a member of the scheme, the member is to be treated for the purposes of this section as being entitled to the contribution refund.".'.
Mr Secretary Smith
158
Page 271, line 35 [Schedule 12], at end insert—
| | ' . | In section 94(2) (right to cash equivalent), for the definition of "the applicable rules" substitute— |
""the applicable rules" means—
| (a) | the rules of the scheme, except so far as— |
| (i) | paragraph 3 of Schedule 5 to the Social Security Act 1989, |
| (ii) | section 129 of this Act, |
| (iii) | section 117 of the Pensions Act 1995, |
| (iv) | section 31(4) of the Welfare Reform and Pensions Act 1999 (pension debits: reduction of benefit), or |
| (v) | section 264 of the Pensions Act 2004, |
| (b) | any provision of any of those Acts which overrides or modifies any of the rules of the scheme by virtue of one of the provisions mentioned in paragraph (a); and |
| (c) | any provision which the rules of the scheme do not contain but which the scheme must contain if it is to conform with Chapter 1 of Part 4 of this Act;".'. |
Mr Secretary Smith
159
Page 272, line 6 [Schedule 12], at end insert—
| | ' | After section 113 insert— |
"113A Disclosure of information about transfers etc Regulations may provide that, where—
| (a) | a payment is made out of an occupational pension scheme to the trustees or managers of another occupational pension scheme, and |
| (b) | transfer credits are allowed to a member of that other scheme in respect of the payment, |
the trustees or managers of the first scheme must, in prescribed circumstances and in the prescribed manner, provide to the trustees or managers of the other scheme prescribed information relating to the payment.".'.
Mr Secretary Smith
160
Page 272, line 6 [Schedule 12], at end insert—
| | '. | In section 129(1) (overriding requirements), for "and IV" substitute ", IV and V".'. |
Mr Secretary Smith
161
Page 272, line 6 [Schedule 12], at end insert—
| | '. | In section 130(b) (extra-statutory benefits), for "or IV" substitute ", IV or V".'. |
Mr Secretary Smith
162
Page 272, line 37 [Schedule 12], at end insert—
| '. | (1) | Section 179 (linked qualifying service) is amended as follows. |
| (2) | In subsection (1)(a)— |
(a) for "the rules of a scheme" substitute "Chapter 4 or 5 of Part 4 or under the rules of a scheme",
(b) for sub-paragraph (i) substitute—
| "(i) | there was made a transfer of his rights (which may include conditional rights or any transfer credits allowed) under that scheme, or a transfer payment in respect of those rights, to, or to the trustees or managers of, another scheme applying to him in the later period of service;", |
(c) for "and" at the end of sub-paragraph (ii), substitute "or", and
(d) after that sub-paragraph insert—
| "(iii) | a cash equivalent (within the meaning of Chapter 4 of Part 4) or cash transfer sum (within the meaning of Chapter 5 of that Part) was paid in respect of him to the trustees or managers of another scheme applying to him in the later period of service; and". |
| (3) | In subsection (1)(b), after "second scheme," insert ", or the payment to the trustees or managers of that scheme,".'. |
Mr Secretary Smith
163
Page 272, line 37 [Schedule 12], at end insert—
| | '. | In section 181(1) (general interpretation), in the definition of "transfer credits", for the words following "by reference to" substitute "— |
| (a) | a transfer to the scheme of, or transfer payment to the trustees or managers of the scheme in respect of, any of his rights (which may include conditional rights and transfer credits allowed) under another scheme, other than rights attributable (directly or indirectly) to a pension credit, or |
| (b) | a cash transfer sum paid under Chapter 5 of Part 4 in respect of him, to the trustees or managers of the scheme.".'. |
Mr Secretary Smith
164
Page 272, line 37 [Schedule 12], at end insert—
| | '. | In section 183(3) (sub-delegation), after "97(1)" insert ", 101AF(1)".'. |
Mr Secretary Smith
165
Page 272, line 42 [Schedule 12], after '145A', insert '(except subsection (6)(b))'.
Mr Secretary Smith
166
Page 273, line 45 [Schedule 12], at end insert—
| | '. | In section 34 (powers of investment and delegation) in subsection (1) after "subject to" insert "section 36(1) and to". |
Mr Secretary Smith
167
Page 274, line 1 [Schedule 12], leave out paragraph 29.
Mr Secretary Smith
175
Page 274, line 3 [Schedule 12], leave out paragraph 30.
Mr Secretary Smith
176
Page 274, line 44 [Schedule 12], leave out paragraph 38 and insert—
| | '38 | In section 69 (grounds for applying modifications)— |
(a) in subsection (2) for "about the manner of dealing with applications under this section" substitute "requiring applications under this section to meet prescribed requirements",
(b) in subsection (3) omit paragraph (a),
(c) in subsection (4)(a) omit "(a) or",and
(d) in subsection (5)(a) omit "either of" and for "subsection (3)(a) or (b)" substitute "subsection (3)(b)".'.
Mr Secretary Smith
177
Page 275, line 31 [Schedule 12], leave out paragraph 44 and insert—
| | '44 | In section 76 (excess assets on winding up)— |
(a) in subsection (3), omit paragraph (c) (but not the word "and" immediately following it),
(b) omit subsection (5), and
(c) in subsection (6) for "sections 3 and 10 apply" substitute "section 10 applies".'.
Mr Secretary Smith
178
Page 275, line 33 [Schedule 12], leave out paragraph 45 and insert—
| | '45 | In section 77 (excess assets remaining after winding up: power to distribute)— |
(a) omit subsections (2) and (3),
(b) in subsection (4)—
| (i) | for the opening words substitute "Where this section applies—", and |
| (ii) | in paragraph (a) for "those assets" substitute "the undistributed assets". |
(c) in subsection (5) for "sections 3 and 10 apply" substitute "section 10 applies".'.
Mr Secretary Smith
168
Page 275, line 39 [Schedule 12], leave out from 'schemes' to end of line 43 and insert ')—
| (a) | in subsection (1)(a)— |
| (i) | for "sections 56 to 60" substitute "Part 3 of the Pensions Act 2004", and |
| (ii) | for "those sections" substitute "that Part", and |
| (b) | in subsection (2) omit "insolvency".'. |
Mr Secretary Smith
169
Page 276 [Schedule 12], leave out lines 3 and 4 and insert—
| ' | (1) | Section 124 (interpretation of Part 1) is amended as follows.'. |
Mr Secretary Smith
170
Page 276, line 4 [Schedule 12], at end insert—
| | '( ) | In subsection (1), in the definition of "employer", for "persons in the description or category of employment" substitute "people with service in employments of the description".'. |
Mr Secretary Smith
171
Page 276, line 4 [Schedule 12], at end insert—
| ' | ( ) | In that subsection, in the definition of "transfer credits", for the words following "by reference to" substitute "— |
| (a) | a transfer to the scheme of, or transfer payment to the trustees or managers of the scheme in respect of, any of his rights (which may include conditional rights and transfer credits allowed) under another scheme, other than pension credit rights, or |
| (b) | a cash transfer sum paid under Chapter 5 of Part 4 of the Pension Schemes Act 1993 (c.48) (early leavers) in respect of him, to the trustees or managers of the scheme.".'. |
Mr Secretary Smith
172
Page 276, line 4 [Schedule 12], at end insert—
| | '( ) | In subsection (3A) after "(3E)" insert "and to sections 25, 122 and 137 of the Pensions Act 2004".'. |
Mr Secretary Smith
173
Page 278, line 44 [Schedule 13], at end insert—
Mr Secretary Smith
179
Page 278, line 54 [Schedule 13], at end insert—
| In section 69—
(a) in subsection (3), paragraph (a),
(b) in subsection (4)(a), the words "(a) or", and
(c) in subsection (5)(a), the words "either of". |
Mr Secretary Smith
180
Page 279, line 8 [Schedule 13], at end insert—
| In section 76—
(a) in subsection (3), paragraph (c) (but not the word "and" immediately following it), and
(b) subsection (5). |
| In section 77, subsections (2) and (3). |
Mr Secretary Smith
174
Page 279, line 13 [Schedule 13], at end insert—
| 'In section 89(2), the word "insolvency".'. |
ORDER OF THE HOUSE [18th MAY 2004]
That the Order of 2nd March 2004 (Pensions Bill (Programme)) as amended by the Order of 19th April 2004 be amended by the substitution for paragraphs 4 and 5 of the following—
'4. Proceedings on consideration shall be taken in the order shown in the first column of the following Table. In that column, any reference to new Clauses or Amendments relating to Part 1, 3, 4 or 5 does not include new Clauses or Amendments relating to any arrangements for financial assistance for members where pension schemes are wound up.
5. The proceedings shown in the first column of the Table shall (so far as not previously concluded) be brought to a conclusion at the time specified in the second column.
Proceedings
| Time for conclusion of proceedings
|
| New Clauses standing in the name of a Minister of the Crown, other than new Clauses relating to Part 2 or to any other arrangements for financial assistance for members where pension schemes are wound up; remaining new Clauses and Amendments relating to Part 1; remaining new Clauses and Amendments relating to Part 3; remaining new Clauses and amendments relating to Part 4; remaining new Clauses and amendments relating to part 5 | At the moment of interruption on the first allotted day. |
| New Clauses and Amendments relating to any arrangements otherwise than through the Pension Protection Fund for financial assistance for members where pension schemes are wound up or relating to the categories of scheme in relation to which the Pension Protection Fund applies | Two hours before the moment of interruption on the second allotted day. |
| New Clauses and Amendments relating to Part 2; remaining new Clauses and Amendments relating to Part 6; remaining new Clauses and Amendments relating to Part 7; remaining new Clauses; Amendments relating to Schedules; new Schedules | Three hours before the moment of interruption on the third allotted day. |
5A. In the Table "allotted day" means a day on which the Bill is put down on the main business as first Government Order of the Day.
5B. Proceedings on Third Reading shall (so far as not previously concluded) be brought to a conclusion at the moment of interruption on the third allotted day.'.
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