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Pensions Bill


Pensions Bill
Part 3 — Personal Accounts Delivery Authority

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21      

Winding up of the Authority

(1)   

If the condition in subsection (3) is satisfied the Secretary of State may by order

provide for the winding up and dissolution of the Authority.

(2)   

If the condition in subsection (3) is satisfied at any time after 2008, the Secretary

of State must lay before Parliament a draft of an order under this section as

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soon as reasonably practicable.

(3)   

The condition is that, as a result of the abandonment or modification of any

relevant proposals about personal accounts, it appears to the Secretary of State

that it is no longer necessary for the Authority to continue to exist.

(4)   

If—

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(a)   

the Secretary of State lays a draft of an order under this section before

Parliament in accordance with subsection (2), and

(b)   

a motion for the approval of the order is defeated in either House,

   

that subsection is not to be taken to oblige the Secretary of State to lay any

further draft of such an order before Parliament.

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(5)   

An order under this section may, in particular—

(a)   

provide for the transfer of property, rights or liabilities of the

Authority—

(i)   

to the Secretary of State, or

(ii)   

to any other person specified in the order;

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(b)   

provide for the property, rights and liabilities of the Authority to be

divided between different persons;

(c)   

provide, in connection with provision made under paragraph (a) or

(b)—

(i)   

for the creation of interests in property transferred or divided;

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(ii)   

for the creation of rights and liabilities in relation to such

property;

(iii)   

for interests, rights and liabilities to be extinguished;

(d)   

provide for the payment by the Secretary of State or the Authority of

compensation to any person who suffers loss or damage as a result of

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the provision made for the winding up of the Authority.

(6)   

An order under this section may make—

(a)   

such consequential, incidental or supplemental provision, and

(b)   

such transitional, transitory or saving provision,

   

as the Secretary of State thinks necessary or expedient in connection with, or in

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consequence of, the winding up and dissolution of the Authority.

(7)   

An order under this section may also contain provision repealing any

provision of sections 18 to 20 or Schedule 6.

(8)   

No order may be made under this section unless a draft of the order has been

laid before and approved by a resolution of each House of Parliament.

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Pensions Bill
Part 4 — General

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Part 4

General

22      

Orders and regulations

(1)   

Any order or regulations under this Act must be made by statutory instrument.

(2)   

Any power of the Secretary of State to make an order or regulations under this

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Act includes power to make different provision for different purposes or cases.

23      

Interpretation

In this Act—

“the Administration Act” means the Social Security Administration Act

1992 (c. 5);

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“the SSCBA” means the Social Security Contributions and Benefits Act

1992 (c. 4);

“subordinate legislation” has the same meaning as in the Interpretation

Act 1978 (c. 30);

“tax year” has the same meaning as in Parts 1 to 6 of the SSCBA (see

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section 122(1) of that Act).

24      

Consequential etc. provision, repeals and revocations

(1)   

The Secretary of State may by order make—

(a)   

such supplementary, incidental or consequential provision, or

(b)   

such transitory, transitional or saving provision,

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as he considers appropriate for the general purposes, or any particular

purposes, of this Act, or in consequence of, or for giving full effect to, any

provision made by this Act.

(2)   

Schedule 7 contains repeals and revocations.

(3)   

The following repeals contained in Part 2 of that Schedule have effect at the end

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of the period of 2 months beginning with the day on which this Act is passed—

(a)   

the repeals of the provisions of the Pensions Act 1995 (c. 26) other than

paragraphs 19 and 20 of Schedule 4 to that Act;

(b)   

the repeal of paragraph 36 of Schedule 24 to the Civil Partnership Act

2004 (c. 33).

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(4)   

The following repeals and revocations have effect on 6th April 2010—

(a)   

the repeals and revocations in Part 1 of Schedule 7;

(b)   

the repeals in Part 2 of that Schedule other than those falling within

subsection (3).

(5)   

The repeals in Part 3 of that Schedule have effect on 6th April in the tax year

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following the designated tax year (see section 5(4)).

(6)   

The repeals in Part 4 of that Schedule have effect on the abolition date (within

the meaning of section 15).

(7)   

The other repeals contained in that Schedule have effect on the date on which

they come into force by virtue of an order made under section 28.

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Pensions Bill
Part 4 — General

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(8)   

A statutory instrument containing an order under subsection (1) is subject to

annulment in pursuance of a resolution of either House of Parliament.

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Financial provisions

(1)   

There is to be paid out of money provided by Parliament

(a)   

any expenditure incurred by the Secretary of State by virtue of this Act; and

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(b)   

any increase attributable to this Act in the sums payable under any other Act

out of money so provided.

(2)   

There is to be paid into the Consolidated Fund any increase in the sums payable into

that Fund under any other Act.

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Northern Ireland

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An Order in Council under paragraph 1(1) of the Schedule to the Northern

Ireland Act 2000 (c. 1) (legislation for Northern Ireland during suspension of

devolved government) which contains a statement that it is made only for

purposes corresponding to those of this Act—

(a)   

is not subject to paragraph 2 of that Schedule (affirmative resolution of

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both Houses of Parliament), but

(b)   

is subject to annulment in pursuance of a resolution of either House of

Parliament.

27      

Extent

(1)   

The following provisions of this Act extend to England and Wales, Scotland

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and Northern Ireland—

(a)   

Part 3, and

(b)   

this Part other than section 26.

(2)   

The following provisions of this Act extend to Northern Ireland only—

(a)   

section 8 and the repeal in the Social Security Contributions and

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Benefits (Northern Ireland) Act 1992 (c. 7) in Part 3 of Schedule 7, and

(b)   

section 26.

(3)   

The amendments made by Schedule 5 have the same extent as the enactments

amended.

(4)   

The other provisions of this Act extend to England and Wales and Scotland.

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28      

Commencement

(1)   

The following provisions of this Act come into force on the day on which it is

passed—

(a)   

sections 5 and 6, and Part 5 of Schedule 1, so far as relating to the

amounts mentioned in subsection (1)(d) of the new section 150A

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inserted into the Administration Act by section 5(1);

(b)   

Part 3;

(c)   

this Part.

(2)   

The following provisions of this Act come into force on such day as the

Secretary of State may by order appoint—

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(a)   

section 14;

 
 

Pensions Bill
Part 4 — General

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(b)   

section 15(1), Part 2 of Schedule 4 and Part 5 of Schedule 7;

(c)   

section 17, Schedule 5 and Part 6 of Schedule 7.

(3)   

The other provisions of this Act come into force at the end of the period of 2

months beginning with the day on which it is passed.

(4)   

An order under subsection (2) may—

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(a)   

appoint different days for different purposes;

(b)   

make such provision as the Secretary of State considers necessary or

expedient for transitory, transitional or saving purposes in connection

with the coming into force of any provision falling within subsection

(2).

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29      

Short title

This Act may be cited as the Pensions Act 2007.

 
 

 
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Revised 29 November 2006