(46-52)

House of Commons

Session 2002 - 03
Internet Publications
Other Bills before Parliament

(  46  )

Clause 180
322
Page 125, line 43, at end insert—

“(6A)
The Board must in respect of any fraud compensation levy imposed under

this section—

(a)
determine the schemes in respect of which it is imposed,

(b)
calculate the amount of the levy in respect of each of those schemes,

and

(c)
notify any person liable to pay the levy in respect of the scheme of

the amount of the levy in respect of the scheme and the date or dates

on which it becomes payable.

(6B)
The Board may require the Regulator to discharge, on the Board’s behalf,

its functions under subsection (6A) in respect of the levy.”
Clause 185
323
Page 130, line 10, leave out from third “to” to “and” in line 12 and insert “the

sheriff,”
Clause 188
324
Page 131, line 3, leave out from beginning to “restricted”
325
Page 131, line 8, leave out “except” and insert—

“(1A)
Subsection (1) is subject to—

(a)
subsection (1B), and

(b)
sections 189 to 194 and 225.

(1B)
Subject to section 193(4), restricted information may be disclosed”
326
Page 131, line 29, after “of” insert “subsections (1) and (1B) and”
Clause 192
327
Page 133, line 9, at end insert “or of the Company Directors Disqualification

(Northern Ireland) Order 2002 (S.I. 2002/3150 (N.I. 4)),”
328
Page 133, line 39, after “section 7” insert “or 23(1)”
Clause 193
329
Page 134, line 25, leave out from “Sections” to “except” in line 26 and insert

“188(1B), 189 to 192, 194 and 225 do not apply to tax information which is disclosed

to the Board as mentioned in subsection (3), and such information may not be

disclosed by the Board or any person who receives the information directly or

indirectly from the Board”
Clause 194
330
Page 135, line 3, at end insert “or in prescribed circumstances”
Clause 197
331
Page 136, line 30, after “that” insert “—

(  47  )

(a)
”
332
Page 136, line 32, after “period” insert “, and

(b)
the reference is to be construed as not including a failure to do the

act or make the determination which first occurs after a prescribed

time”
333
Page 136, line 32, at end insert—

“( )
Regulations may make provision suspending the effect of any

determination, direction or other act of the Board, or any notice given or

issued by it, which relates to a reviewable matter until—

(a)
the period within which the matter may be reviewed by virtue of

this Chapter has expired, and

(b)
if the matter is so reviewed—

(i)
the review and any reconsideration,

(ii)
any reference to the PPF Ombudsman in respect of the

matter, and

(iii)
any appeal against his determination or directions,


has been finally disposed of.”
334
Page 136, line 37, at end insert—

“( )
Regulations under subsection (3) may also modify any provision of this

Part in consequence of provision made by virtue of paragraph (a) or (b) of

that subsection.”
Clause 198
335
Page 137, line 21, at end insert—

“( )
to provide for such variations, revocations or substitutions, or any

determinations, directions or other decisions made as a result of the

review decision or reconsideration decision, to be treated as if they

were made at such time (which may be a time prior to the making

of the review decision or reconsideration decision) as the Board

considers appropriate,

( )
to provide for any notice varied, substituted, issued or given by the

Board as a result of the review decision or reconsideration decision,

to be treated as if it were issued or given at such time (which may

be a time prior to the making of the review decision or

reconsideration decision) as the Board considers appropriate,”
Clause 199
336
Page 138, line 7, leave out from beginning to “or” and insert “the pension

compensation provisions,”
Clause 200
337
Page 139, line 35, at end insert—

“(7)
Regulations may provide for the imposition of a levy in respect of eligible

schemes for the purpose of meeting expenditure of the Secretary of State

under subsection (6).

(8)
Where regulations make such provision, subsections (2), (3), (5), (6) and (7)

of section 111 (administration levy) apply in relation to the levy as they

(  48  )

apply in relation to an administration levy (within the meaning of that

section), except that in subsection (7) the reference to subsection (1) of that

section is to be read as a reference to subsection (7) of this section.”
Clause 201
338
Page 139, line 38, after “Ombudsman (” insert “in this Chapter referred to as”
Clause 202
339
Page 140, line 27, at end insert—

“(2A)
The persons to whom section 1 of the Superannuation Act 1972 (c. 11)

(persons to or in respect of whom benefits may be provided by schemes

under that section) applies are to include—


the PPF Ombudsman


a Deputy PPF Ombudsman


the employees of the PPF Ombudsman.

(2B)
The PPF Ombudsman must pay to the Minister for the Civil Service, at such

times as he may direct, such sums as he may determine in respect of the

increase attributable to subsection (2A) in the sums payable out of money

provided by Parliament under that Act.”
Clause 204
340
Page 142, line 12, after “payments,” insert—

“( )
conferring power on the PPF Ombudsman to direct that—

(i)
any determinations, directions or other decisions which are

made by the Board in accordance with any determination or

direction given by him, or

(ii)
any variations, revocations or substitutions of its

determinations, directions or other decisions which are

made by the Board in accordance with any determination or

direction given by him,


are to be treated as if they were made at such time (which may be a

time prior to his determination or direction) as he considers

appropriate,

( )
conferring power on the PPF Ombudsman to direct that any notice

varied, substituted, issued or given by the Board in accordance with

any determination or direction given by him is to be treated—

(i)
as if it were issued or given at such time (which may be a

time prior to his determination or direction) as he considers

appropriate;

(ii)
as if it became binding for the purposes of this Part at the

time at which he gives his determination or direction or at

such later time as he considers appropriate,

( )
prescribing the circumstances in which any determination or other

act of the Board in accordance with any determination or direction

given by the PPF Ombudsman, is not to be treated as being a

reviewable matter for the purposes of this Chapter,”
341
Page 142, line 14, at end insert “(including such powers as the Board may have on

making a review decision or a reconsideration decision under regulations made

under section 198(1))”

(  49  )

Clause 210
342
Page 144, line 30, leave out sub-paragraphs (i) to (iii) and insert—

“(i)
a scheme failure notice or a withdrawal notice issued under

section 116(2) in relation to the scheme becoming binding,

(ii)
a withdrawal notice issued under section (Withdrawal

following issue of section 116(4) notice) in relation to the

scheme becoming binding, or

(iii)
a notice issued under section 116(4) becoming binding in a

case where section (Withdrawal following issue of section

116(4) notice) does not apply.”
343
Page 145, line 3, leave out from “than” to end of line 4 and insert “a scheme failure

notice or a withdrawal notice issued under section 122(2) or (3) in relation to the

scheme becoming binding.”
344
Page 145, line 10, at end insert—

“(3A)
In a case where subsection (3) applies, the Regulator may by order direct

any person specified in the order—

(a)
to take such steps as are so specified as it considers are necessary as

a result of the winding up of the scheme beginning in accordance

with that subsection, and

(b)
to take those steps within a period specified in the order.

(3B)
If the trustees or managers of a scheme fail to comply with a direction to

them contained in an order under subsection (3A), section 10 of the

Pensions Act 1995 (c. 26) (civil penalties) applies to any trustee or manager

who has failed to take all reasonable steps to secure compliance.

(3C)
That section also applies to any other person who, without reasonable

excuse, fails to comply with a direction to him contained in an order under

subsection (3A).”
After Clause 210
345
Insert the following new Clause—

“Pension sharing

(1)
Regulations may modify any of the provisions of this Part as it applies in

relation to—

(a)
cases where a person’s shareable rights under an eligible scheme

have (at any time) become subject to a pension debit;

(b)
cases where—

(i)
a pension sharing order or provision in respect of such

rights is made before the time a transfer notice under section

151 is received by the trustees or managers of the eligible

scheme, and

(ii)
that order or provision takes effect on or after the receipt by

them of the notice.

(2)
Regulations may also modify any of the provisions of Chapter 1 of Part 4 of

the Welfare Reform and Pensions Act 1999 (c. 30) (pension sharing) as it

applies in relation to—

(a)
cases within subsection (1)(a) where any liability of the trustees or

managers of the eligible scheme in respect of a pension credit was

(  50  )

not discharged before the time a transfer notice under section 151

was received by the trustees or managers of the eligible scheme;

(b)
cases within subsection (1)(b).

(3)
In this section—

(a)
“pension debit” and “shareable rights” have the same meaning as in

Chapter 1 of Part 4 of the Welfare Reform and Pensions Act 1999

(c. 30) (pension sharing), and

(b)
“pension sharing order or provision” means an order or provision

falling within section 28(1) of the Welfare Reform and Pensions Act

1999 (activation of pension sharing).”
Clause 212
346
Page 146, line 8, leave out “that limits the amount of its” and insert “rules that limits

the amount of the scheme’s”
Clause 215
347
Page 147, line 30, leave out from “212” to end of line 31
Clause 216
348
Page 147, line 41, leave out from “must” to end of line 42 and insert “, within the

prescribed time—

(a)
if there is no existing recovery plan in force, prepare a recovery

plan;

(b)
if there is an existing recovery plan in force, review and if necessary

revise it.”
349
Page 148, line 4, after “preparing” insert “or revising”
350
Page 148, line 6, leave out subsection (5) and insert—

“(5)
Provision may be made by regulations as to other circumstances in which

a recovery plan may or must be reviewed and if necessary revised.”
351
Page 148, line 14, leave out from beginning to “must” and insert “The copy of any

recovery plan sent to the Regulator”
Clause 219
352
Page 150, line 7, after “any” insert “provisions of a”
353
Page 150, line 13, at end insert—

“(2A)
No modification may be made under subsection (2) that on taking effect

would or might adversely affect any subsisting right of—

(a)
any member of the scheme, or

(b)
any survivor of a member of the scheme.


For this purpose “subsisting right” and “survivor” have the meanings

given by section 67A of the Pensions Act 1995.”
Clause 221
354
Page 151, line 5, leave out from “failed” to end of line 9 and insert “to comply with

(  51  )

the requirements of section 213 with respect to the preparation or revision of a

statement of funding principles;”
355
Page 151, line 15, leave out from first “to” to end of line 20 and insert “comply with

the requirements of section 216 with respect to the preparation or revision of a

recovery plan;”
356
Page 151, line 22, leave out from “to” to end of line 28 and insert “comply with the

requirements of section 217 with respect to the preparation or revision of a

schedule of contributions;”
357
Page 151, line 50, at end insert—

“(2A)
No modification may be made under subsection (2)(a) that on taking effect

would or might adversely affect any subsisting right of—

(a)
any member of the scheme, or

(b)
any survivor of a member of the scheme.


For this purpose “subsisting right” and “survivor” have the meanings

given by section 67A of the Pensions Act 1995.”
Clause 225
358
Page 153, line 29, at end insert—

“(6)
This section is subject to sections 82 and 193 (tax information disclosed to

the Regulator or the Board).”
Before Clause 229
359
Insert the following new Clause—

“Removal of compulsion to take annuities

Notwithstanding any statutory provision or rule of law to the contrary, the

requirement for pensioners to take their pension in the form of an annuity,

together with the requirement to do so by the age of 75, shall cease to have

effect, provided that the pensioner can demonstrate that he has resources

to ensure that he will not become dependent on means-tested benefits.”
Clause 229
360
Page 155, line 17, after “applies” insert “when the scheme is established or (as the

case may be) to whom that subsection would have applied when the scheme was

established had that subsection then been in force”
361
Page 155, line 19, at end insert—


“or a pension scheme that is prescribed or is of a prescribed

description;”
362
Page 155, line 23, leave out “144(1)” and insert “154(1)”
363
Page 156, line 9, leave out “144(4)” and insert “154(4)”
364
Page 156, line 10, leave out “144 and 145” and insert “154 and 155”
After Clause 229
365
Insert the following new Clause—

(  52  )


“Meaning of employer in Part 1 of the Pensions Act 1995

(1)
In section 125 of the Pensions Act 1995 (c. 26) (supplementary provision

relating to interpretation), in subsection (3) (extension of meaning of

“employer”)—

(a)
after “include” insert “—

(a)”

(b)
after “scheme” insert “;

(b)
such other persons as may be prescribed”.

(2)
In section 175 of that Act (parliamentary control of orders and regulations),

in subsection (2) (instruments subject to affirmative resolution procedure),

omit “or” at end of paragraph (c) and after that paragraph insert—

“(ca)
section 125(3)(b), or”.”
Clause 230
366
Page 156, line 25, leave out from “which” to end of line 26 and insert “at least the

following are eligible to participate—

(i)
all the active members of the scheme or an organisation

which adequately represents the active members, and

(ii)
all the pensioner members of the scheme or an organisation

which adequately represents the pensioner members, and”
367
Page 156, line 27, leave out “by” and insert “as a result of a process which involves”
Clause 231
368
Page 157, line 28, after second “directors” insert “of the company in question”
369
Page 157, line 29, leave out from “which” to end of line 30 and insert “at least the

following are eligible to participate—

(i)
all the active members of the occupational trust scheme or

an organisation which adequately represents the active

members, and

(ii)
all the pensioner members of the occupational trust scheme

scheme or an organisation which adequately represents the

pensioner members,”
370
Page 157, line 32, leave out “by” and insert “as a result of a process which involves”
Clause 232
371
Page 158, line 37, at end insert—

“(A1)
The Secretary of State may, by order, amend sections 230(1)(a) and (4) and

231(1)(a) and (4) by substituting, in each of those provisions, “one-half” for

“one-third”.”
372
Page 158, line 38, after “231” insert “(including any of the provisions mentioned in

subsection (A1))”
Clause 236
373
Page 160, line 31, leave out “scheme rules” and insert “rules of the scheme”