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(  80  )

 
 

(a)   

his pensionable service terminates on the commencement of the

 

assessment period, and

 

(b)   

as a result, he has rights, in relation to the scheme, under Chapter

 

5 of Part 4 of the Pension Schemes Act 1993 (c. 48) (early leavers:

 

cash transfer sums and contribution refunds).

 

      (2)  

Where this paragraph applies, for the purposes of this Schedule the

 

member is to be treated as if, immediately before the assessment date,

 

he—

 

(a)   

had relevant accrued rights to benefits under the scheme (within

 

the meaning of section 101AA(4) of that Act), and

 

(b)   

did not have any other rights to benefits (other than benefits

 

attributable (directly or indirectly) to a pension credit) under the

 

scheme.”

551

Page 282, line 26, at end insert—

 

“Power to modify Schedule in its application to certain schemes

 

30B        

Where the scheme is a prescribed scheme or a scheme of a prescribed

 

description, this Schedule applies with such modifications as may be

 

prescribed.”

552

Page 283, leave out line 4

553

Page 283, line 8, leave out sub-paragraph (2)

554

Page 283, line 25, leave out from “disregarding” to end of line 26 and insert “—

 

(a)   

in a case where sub-paragraph (4) applies, the recent rule

 

changes, and

 

(b)   

in any case, any scheme rule which comes into operation on, or

 

operates by reference, to the winding up of the scheme or any

 

associated event.”

555

Page 283, leave out line 40

556

Page 283, line 46, leave out “changes attributable to” and insert “any scheme rules

 

or changes attributable to paragraph 3 of Schedule 5 to the Social Security Act

 

1989,”

557

Page 283, line 47, after “1995” insert “, section 31(4) of the Welfare Reform and

 

Pensions Act 1999”

558

Page 284, line 1, leave out paragraph (b) and insert—

 

“(b)   

any enactment, or any scheme rules or changes which are

 

required or reasonably necessary to comply with an

 

enactment,

 

(ba)   

any scheme rules or changes that come into operation on,

 

or operate by reference to, the winding up of the scheme

 

or any associated event, and”

559

Page 284, line 3, at beginning insert “any scheme rules or”

560

Page 284, line 5, after “scheme” insert “rules”

561

Page 284, line 12, at end insert “or”

562

Page 284, line 16, leave out from beginning to “or” in line 19

563

Page 284, line 44, leave out from beginning to end of line 8 on page 285 and insert—


 

(  81  )

 
 

     “(4)  

Subject to sub-paragraph (5), “pensionable service” means—

 

(a)   

actual service in any description of employment to which the

 

scheme applies which qualifies the member for benefits under

 

the scheme, and

 

(b)   

any notional service allowed in respect of the member under the

 

admissible rules which qualifies the member for such benefits.

 

      (5)  

The service within sub-paragraph (4)(b) does not include—

 

(a)   

service attributable (directly or indirectly) to a pension credit, or

 

(b)   

service of a prescribed description.”

564

Page 285, line 12, leave out “under the scheme”

565

Page 285, line 15, leave out from “service” to “is” in line 16

566

Page 285, leave out lines 25 and 26

567

Page 285, leave out lines 39 to 48

568

Page 286, line 5, leave out “under the scheme”

Schedule 9

569

Page 289, line 43, leave out paragraph 1

570

Page 289, line 43, at end insert—

 

“          

The issue of a determination notice under section (Approval of notices

 

issued under section 116) approving a notice issued under section 116.

 

           

The failure to issue a determination notice under section (Approval of

 

notices issued under section 116).”

571

Page 290, line 1, leave out from “section” to end of line 2 and insert “116 by the

 

Board by virtue of section 117 (Board’s duty where failure to comply with section

 

116).”

572

Page 290, line 4, after “a” insert “scheme failure”

573

Page 290, line 14, at end insert—

 

“          

The failure by the Board to obtain an actuarial valuation of a scheme

 

under section 135(2).”

574

Page 290, line 20, leave out “140(5)(a)” and insert “(Withdrawal following issue of

 

section 116(4) notice)

575

Page 290, line 35, at end insert—

 

“          

Any determination by the Board under section 172(3)(a) (the eligible

 

schemes in respect of which the initial levy or the pension protection

 

levy is imposed) or the failure to make such a determination.”

576

Page 291, line 19, at end insert—

 

“26        

Any determination by the Board under section 180(6A)(a) (occupational

 

pension schemes in respect of which any fraud compensation levy is

 

imposed) or the failure to make such a determination.

 

27         

The amount of any fraud compensation levy payable in respect of an

 

occupational pension scheme determined by the Board under section

 

180(6A)(b).”


 

(  82  )

 

Schedule 10  

577

Page 292, line 17, leave out sub-paragraphs (3) and (4)

Schedule 11

578

Page 293, leave out lines 32 to 35 and insert—

 

     “(3)  

Regulations—

 

(a)   

may enable a person who has made an election under sub-

 

paragraph (1) (including one that the person is treated by sub-

 

paragraph (2) as having made) to change the election within a

 

prescribed period and in a prescribed manner, if prescribed

 

conditions are satisfied, and

 

(b)   

if they enable a person to make an election under sub-paragraph

 

(1)(b) in respect of a period of deferment after receiving any

 

increase of pension under paragraph 1 by reference to that

 

period, may for the purpose of avoiding duplication of

 

payment—

 

(i)   

enable an amount determined in accordance with the

 

regulations to be recovered from the person in a

 

prescribed manner and within a prescribed period, or

 

(ii)   

provide for an amount determined in accordance with

 

the regulations to be treated as having been paid on

 

account of the amount to which the person is entitled

 

under paragraph 3A.”

579

Page 296, leave out lines 26 to 29 and insert—

 

     “(4)  

Regulations—

 

(a)   

may enable a person who has made an election under sub-

 

paragraph (2) (including one that the person is treated by sub-

 

paragraph (3) as having made) to change the election within a

 

prescribed period and in a prescribed manner, if prescribed

 

conditions are satisfied, and

 

(b)   

if they enable a person to make an election under sub-paragraph

 

(2)(b) in respect of a period of deferment after receiving any

 

increase of pension under paragraph 4 by reference to that

 

period, may for the purpose of avoiding duplication of

 

payment—

 

(i)   

enable an amount determined in accordance with the

 

regulations to be recovered from the person in a

 

prescribed manner and within a prescribed period, or

 

(ii)   

provide for an amount determined in accordance with

 

the regulations to be treated as having been paid on

 

account of the amount to which the person is entitled

 

under paragraph 7A.”

580

Page 300, leave out lines 1 to 4 and insert—

 

     “(3)  

Regulations—

 

(a)   

may enable a person who has made an election under sub-

 

paragraph (1) (including one that the person is treated by sub-

 

paragraph (2) as having made) to change the election within a

 

prescribed period and in a prescribed manner, if prescribed

 

conditions are satisfied, and


 

(  83  )

 
 

(b)   

if they enable a person to make an election under sub-paragraph

 

(1)(b) in respect of a period of deferment after receiving any

 

increase of pension under paragraph 2 by reference to that

 

period, may for the purpose of avoiding duplication of

 

payment—

 

(i)   

enable an amount determined in accordance with the

 

regulations to be recovered from the person in a

 

prescribed manner and within a prescribed period, or

 

(ii)   

provide for an amount determined in accordance with

 

the regulations to be treated as having been paid on

 

account of the amount to which the person is entitled

 

under paragraph 4.”

Schedule 12

581

Page 304, line 2, at end insert—

 

“Public Records Act 1958 (c. 51)

 

           

In Schedule 1 to the Public Records Act 1958 (definition of public

 

records), in Part 2 of the Table in paragraph 3 insert at the appropriate

 

place—

 

           

“The Pensions Regulator.”

 

           

“The Board of the Pension Protection Fund.”

 

           

“The Ombudsman for the Board of the Pension Protection Fund.””

582

Page 304, line 7, leave out “and” and insert—

 

           

““Employment by the Ombudsman for the Board of the Pension

 

Protection Fund.”, and”

583

Page 304, line 11, leave out “and”

584

Page 304, line 12, at end insert—

 

           

““A deputy to the Ombudsman for the Board of the Pension

 

Protection Fund.”,

 

           

“A deputy to the Pensions Ombudsman.”, and

 

           

“The Ombudsman for the Board of the Pension Protection Fund.””

585

Page 304, line 12, at end insert—

 

“Matrimonial Causes Act 1973 (c. 18)

 

           

After section 25D of the Matrimonial Causes Act 1973 (pensions:

 

supplementary) insert—

 

“25E    

The Pension Protection Fund

 

(1)   

The matters to which the court is to have regard under section

 

25(2) include—

 

(a)   

in the case of paragraph (a), any PPF compensation to

 

which a party to the marriage is or is likely to be entitled,

 

and

 

(b)   

in the case of paragraph (h), any PPF compensation

 

which, by reason of the dissolution or annulment of the


 

(  84  )

 
 

marriage, a party to the marriage will lose the chance of

 

acquiring entitlement to,

 

   

and, accordingly, in relation to PPF compensation, section

 

25(2)(a) shall have effect as if “in the foreseeable future” were

 

omitted.

 

(2)   

Subsection (3) applies in relation to an order under section 23 so

 

far as it includes provision made by virtue of section 25B(4)

 

which—

 

(a)   

imposed requirements on the trustees or managers of an

 

occupational pension scheme for which the Board has

 

assumed responsibility in accordance with Chapter 3 of

 

Part 2 of the Pensions Act 2004 (pension protection) or

 

any provision in force in Northern Ireland corresponding

 

to that Chapter, and

 

(b)   

was made before the trustees or managers of the scheme

 

received the transfer notice in relation to the scheme.

 

(3)   

The order is to have effect from the time when the trustees or

 

managers of the scheme receive the transfer notice—

 

(a)   

as if, except in prescribed descriptions of case—

 

(i)   

references in the order to the trustees or managers

 

of the scheme were references to the Board, and

 

(ii)   

references in the order to any pension or lump

 

sum to which the party with pension rights is or

 

may become entitled under the scheme were

 

references to any PPF compensation to which that

 

person is or may become entitled in respect of the

 

pension or lump sum, and

 

(b)   

subject to such other modifications as may be prescribed.

 

(4)   

Subsection (5) applies to an order under section 23 if—

 

(a)   

it includes provision made by virtue of section 25B(7)

 

which requires the party with pension rights to exercise

 

his right of commutation under an occupational pension

 

scheme to any extent, and

 

(b)   

before the requirement is complied with the Board has

 

assumed responsibility for the scheme as mentioned in

 

subsection (2)(a).

 

(5)   

From the time the trustees or managers of the scheme receive the

 

transfer notice, the order is to have effect with such modifications

 

as may be prescribed.

 

(6)   

Regulations may modify section 25C as it applies in relation to an

 

occupational pension scheme at any time when there is an

 

assessment period in relation to the scheme.

 

(7)   

Where the court makes a pension sharing order in respect of a

 

person’s shareable rights under an occupational pension scheme,

 

or an order which includes provision made by virtue of section

 

25B(4) or (7) in relation to such a scheme, the Board subsequently

 

assuming responsibility for the scheme as mentioned in

 

subsection (2)(a) does not affect—


 

(  85  )

 
 

(a)   

the powers of the court under section 31 to vary or

 

discharge the order or to suspend or revive any provision

 

of it, or

 

(b)   

on an appeal, the powers of the appeal court to affirm,

 

reinstate, set aside or vary the order.

 

(8)   

Regulations may make such consequential modifications of any

 

provision of, or made by virtue of, this Part as appear to the Lord

 

Chancellor necessary or expedient to give effect to the provisions

 

of this section.

 

(9)   

In this section—

 

   

“assessment period” means an assessment period within the

 

meaning of Part 2 of the Pensions Act 2004 (pension

 

protection) (see sections 124 and 150 of that Act) or an

 

equivalent period under any provision in force in

 

Northern Ireland corresponding to that Part;

 

   

“the Board” means the Board of the Pension Protection

 

Fund;

 

   

“occupational pension scheme” has the same meaning as in

 

the Pension Schemes Act 1993;

 

   

“prescribed” means prescribed by regulations;

 

   

“PPF compensation” means compensation payable under

 

Chapter 3 of Part 2 of the Pensions Act 2004 (pension

 

protection) or any provision in force in Northern Ireland

 

corresponding to that Chapter;

 

   

“regulations” means regulations made by the Lord

 

Chancellor;

 

   

“shareable rights” are rights in relation to which pension

 

sharing is available under Chapter 1 of Part 4 of the

 

Welfare Reform and Pensions Act 1999 or any provision

 

in force in Northern Ireland corresponding to that

 

Chapter;

 

   

“transfer notice” has the same meaning as in section 151 of

 

the Pensions Act 2004 or any corresponding provision in

 

force in Northern Ireland.

 

(10)   

Any power to make regulations under this section is exercisable

 

by statutory instrument, which shall be subject to annulment in

 

pursuance of a resolution of either House of Parliament.””

586

Page 304, line 12, at end insert—

 

“Matrimonial and Family Proceedings Act 1984 (c. 42)

 

      (1)  

The Matrimonial and Family Proceedings Act 1984 is amended as

 

follows.

 

      (2)  

In section 18 (matters to which the court is to have regard in exercising

 

its powers under section 17)—

 

(a)   

in subsection (3A)—

 

(i)   

in paragraph (a) after “have” insert “and any PPF

 

compensation to which a party to the marriage is or is

 

likely to be entitled,”,

 

(ii)   

in paragraph (b) after “include” insert “—


 
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