S.C.C.
Amendment Paper as at
Tuesday 13th December 2005
STANDING COMMITTEE C
RIGHTS OF SAVERS BILL
Mr Stephen Timms
1
Page 1, line 4, leave out Clause 1.
Mr Stephen Timms
2
Page 2, line 35, leave out Clause 2.
Sir Malcolm Rifkind
20
Clause 3, page 4, line 25, at end insert ', employing at least five employees'.
Mr Stephen Timms
3
Page 3, line 24, leave out Clause 3.
Mr Stephen Timms
4
Page 4, line 43, leave out Clause 4.
John Penrose
24
*Clause 5, page 6, line 9, after 'child', insert 'or grandchild'.
John Penrose
23
*Clause 5, page 6, line 15, after 'of', insert 'accredited'.
John Penrose
25
*Clause 5, page 6, line 28, at end insert—
"'grandchild" means—
| (a) | a grandson or granddaughter of the account investor, or |
| (b) | a person in respect of whom the account investor's child had parental responsibility when that person reached the age of 16;'. |
Mr Stephen Timms
5
Page 5, line 30, leave out Clause 5.
Mr Stephen Timms
6
Page 7, line 16, leave out Clause 6.
Mr Stephen Timms
7
Page 7, line 29, leave out Clause 7.
Mr Stephen Timms
8
Page 7, line 37, leave out Clause 8.
John Penrose
21
*Clause 9, page 9, line 11, after 'an', insert 'annual'.
John Penrose
22
*Clause 9, page 9, line 38, at end insert—
'(9A) The ninth condition is that each member's life expectancy is re-assessed at an interval not exceeding twelve months.'.
John Penrose
26
*Clause 9, page 9, line 38, at end insert—
'(9B) A SaRA may be converted into a Retirement Income Fund at the account holder's sole discretion, providing that he is either—
| (a) | over the age of 60, or |
| (b) | in receipt of Incapacity Benefit, Disability Living Allowance or their successors.'. |
John Penrose
27
*Clause 9, page 9, line 38, at end insert—
'(9C) Section 109(1)(b) of the Employment Rights Act 1996 (c. 18) shall not apply to the holder of a SaRA.'.
Mr Stephen Timms
9
Page 8, line 39, leave out Clause 9.
Mr Stephen Timms
10
Page 9, line 39, leave out Clause 10.
Mr Stephen Timms
11
Page 10, line 9, leave out Clause 11.
Mr Stephen Timms
12
Page 10, line 19, leave out Clause 12.
Mr Stephen Timms
13
Page 10, line 25, leave out Clause 13.
Mr Stephen Timms
14
Page 10, line 36, leave out Clause 14.
Mr Stephen Timms
15
Page 11, line 1, leave out Clause 15.
Mr Stephen Timms
16
Page 11, line 15, leave out Clause 16.
Mr Stephen Timms
17
Page 11, line 21, leave out Clause 17.
Mr Stephen Timms
18
Page 12, line 2, leave out Schedule 1.
Mr Stephen Timms
19
Page 14, line 1, leave out Schedule 2.
