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Mr. Pond:
Later clauses, as I said, deal with schemes covered by partial Crown guarantee that, as a category, will be exempt. In that case, we can use a category, but in this case, we need to name individual schemes and
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adopt a much more targeted approach, to make sure that we do not allow unfairness to slip into the overall process.
Kevin Brennan: My hon. Friend named a particular scheme that was guaranteed. Is it a guarantee against fraud or a guarantee that pensions will be paid? Surely, every scheme is guaranteed against fraud, which is an illegal act.
David Cairns (Greenock and Inverclyde) (Lab): The law is the guarantee against fraud.
Mr. Pond: As my hon. Friend the Member for Greenock and Inverclyde (David Cairns) said, the law should be a guarantee against fraud. The fraud compensation scheme was set up, because, although the effort to prevent fraud in the first place offers a guarantee, once fraud has been committed, resources are not necessarily available for cash compensation. Here we are talking about a guarantee also that the pension will be paid. That is built into the scheme, which I know is the sort of reassurance that my hon. Friend would want.In reply to the hon. Member for Northavon, I should say that it is the Government, not the PPF, who will prescribe which schemes are to be exempted in this way.
It being Three o'clock, Madam Deputy Speaker proceeded to put forthwith the Questions necessary for the disposal of business to be concluded at that hour, pursuant to Order [18 May].
Amendment agreed to.
Clause 171
Amendment made: No. 121, in page 116, line 5, 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.'.—[Malcolm Wicks.]
Clause 172
Amendment made: No. 122, in page 116, line 11, after 'is' insert 'prescribed or'.—[Malcolm Wicks.]
Clause 264
Amendments made: No. 127, in page 191, line 11, at end insert—
'( ) any direction issued by the Regulator under section 38(4);'.
No. 128, in page 191, line 11, at end insert—
'( ) any direction issued by the Regulator under section 45(4);'.—[Malcolm Wicks.]
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Clause 265
Amendments made: No. 129, in page 192, line 3, 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.'.
No. 130, in page 192, line 4, at end insert—
' "eligible scheme" has the meaning given in section 113;'.
No. 131, in page 192, line 12, 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.'.—[Malcolm Wicks.]
Clause 275
Amendment made: No. 132, in page 197, line 27, leave out
'persons in the description or category of employment'
and insert
'people with service in employments of the description'.—[Malcolm Wicks.]
Schedule 1
Amendments made: No. 133, in page 207, line 30, at end insert—
'( ) the power to issue a notice under section 41(1) approving the details of arrangements;'.
No. 61, in page 207, line 30, at end insert—
'( ) the power to grant or revoke authorisation under section (General authorisation to accept contributions from European employers);
( ) the power to grant or revoke approval under section (Approval in relation to particular European employer;
( ) the power to issue a notice under section (Functions of Regulator in relation to institutions administered in other member States)(5);'
No. 134, in page 207, line 38, at end insert—
'( ) the power to appoint an independent trustee under section 23 of that Act;'.—[Malcolm Wicks.]
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Schedule 2
Amendments made: No. 135, in page 213, line 11, at end insert—
'. The power to make an order under section 67G(2) by virtue of which any modification of, or grant of rights under, an occupational pension scheme is void to any extent.
'. The power to make an order under section 67H(2) prohibiting, or specifying steps to be taken in relation to, the exercise of a power to modify an occupational pension scheme.'.
No. 136, in page 213, line 32, at end insert—
'. The power to issue a contribution notice under section 35.'.
No. 137, in page 213, line 32, at end insert—
'. The power to issue a direction under section 38(4) to the trustees or managers of an occupational pension scheme.'.
No. 138, in page 213, line 32, at end insert—
'. The power to issue a financial support direction under section 39.'.
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