Amendments proposed to the Pensions Bill - continued House of Commons

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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,

 overrides them;

(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—

'Section 36(2).'
   

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 5At 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 appliesTwo 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 SchedulesThree 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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