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No. 139, in page 213, line 32, at end insert—
'. The power to issue a contribution notice under section 42.'.
No. 140, in page 213, line 32, at end insert—
'. The power to issue a direction under section 45(4) to the trustees or managers of an occupational pension scheme.'.
No. 141, in page 213, line 32, at end insert—
'. The power to make a restoration order under section [Restoration orders where transactions at an undervalue].'.
No. 142, in page 213, line 32, at end insert—
'. The power to issue a contribution notice under section [Contribution notices where failure to comply with restoration order].'.—[Malcolm Wicks.]
Schedule 6
Amendment made: No. 143, in page 230, line 42, after 'employment', insert
'between the trustees or managers of the scheme and an individual'.—[Malcolm Wicks.]
Schedule 7
Amendments made: No. 144, in page 239, line 36, after first 'that', insert '—
(a) in that paragraph the references to the pension are to be read as references to the scheme lump sum, and
(b)'.
No. 145, in page 250, line 8, at end insert—
' (1) The powers conferred by this paragraph are exercisable in relation to cases where—
(a) immediately before the assessment date, a person ("the pensioner") is entitled to present payment of a pension under the scheme rules ("the pre-assessment date pension"), but
(b) the case is one to which paragraph 31(4) applies and the effect of disregarding the recent rule changes is that the pensioner is not entitled to compensation under paragraph 3(2) by reason of the pension or a part of the pension.
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(2) Regulations may provide—
(a) for the pensioner to be treated, for the purposes of the pension compensation provisions, as entitled, immediately before the assessment date, to present payment of a pension under the admissible rules, and
(b) for the compensation payable under paragraph 3 in respect of that pension to be determined in the prescribed manner and, for this purpose, for any provision of this Schedule to be applied with such modifications as may be prescribed.
(3) Regulations may also provide, in cases where—
(a) the pensioner is not treated as entitled to present payment of a pension by virtue of regulations under sub-paragraph (2), but
(b) he is or may become entitled to compensation in respect of the pre-assessment date pension otherwise than under paragraph 3,
for any provision of this Schedule to apply with such modifications as may be prescribed.'.
No. 146, in page 250, line 37, leave out from 'as' to 'overrides' in line 39 and insert '—
(i) paragraph 3 of Schedule 5 to the Social Security Act 1989 (c. 24),
(ii) section 129 of the Pension Schemes Act 1993 (c. 48),
(iii) section 117 of the Pensions Act 1995 (c. 26),
(iv) section 31(4) of the Welfare Reform and Pensions Act 1999 (c. 30) (pension debits: reduction of benefit), or
(v) section 264 of this Act,'.
No. 147, in page 253, line 18, leave out from first 'to' to end of line 20 and insert '—
(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.'—[Malcolm Wicks.]
Schedule 11
Amendments made: No. 148, in page 263, leave out lines 14 and 15 and insert—
'R is—
(a) a percentage rate two per cent.higher than the Bank of England base rate, or
(b) if regulations so provide, such higher rate as may be prescribed.'.
No. 149, in page 263, line 15, at end insert—
'( ) For the purposes of sub-paragraph (3), any change in the Bank of England base rate is to be treated as taking effect—
(a) at the beginning of the accrual period immediately following the accrual period during which the change took effect, or
(b) if regulations so provide, at such other time as may be prescribed.'.
No. 150, in page 265, leave out lines 33 and 34 and insert—
'R is—
(a) a percentage rate two per cent.higher than the Bank of England base rate, or
(b) if regulations so provide, such higher rate as may be prescribed.'.
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No. 151, in page 265, line 34, at end insert—
'( ) For the purposes of sub-paragraph (3), any change in the Bank of England base rate is to be treated as taking effect—
(a) at the beginning of the accrual period immediately following the accrual period during which the change took effect, or
(b) if regulations so provide, at such other time as may be prescribed.'.
No. 152, in page 267, line 44, leave out '1995'.
No. 153, in page 268, leave out lines 41 and 42 and insert—
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