319

House of Commons

Notices of Amendments

given on

Thursday 7th February 2008

For other Amendment(s) see the following page(s):

Pensions Bill Committee 293-317

Public Bill Committee

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Pensions Bill

Mr Mike O’Brien

187

Clause  109,  page  48,  line  12,  leave out ‘61’ and insert ‘60’.

Member’s explanatory statement

This amendment provides for definitions applying for the purposes of clauses 50 to 56 (power to

provide for a pension scheme) to come into force with those clauses on Royal Assent.

Mr Mike O’Brien

188

Clause  109,  page  48,  line  14,  at end insert ‘and Schedule 8’.

Member’s explanatory statement

This amendment corrects an omission. It provides for Schedule 8 (repeals), like clause 108 which

introduces it, to be brought into force by commencement order under clause 109(1).

Financial assistance scheme

Mr Mike O’Brien

NC20

To move the following Clause:—

‘(1)	Subsection (2) of section 286 of the Pensions Act 2004 (financial assistance

scheme for members of certain pension schemes) is amended as follows.

(2)	In the definition of “qualifying member”, for the words from “a person” to the end

of paragraph (b) substitute “a person who, at such time as may be prescribed, is a

member of the scheme or has ceased to be a member of the scheme,”.

(3)	In the definition of “qualifying pension scheme” after paragraph (b) insert—

“(ba)

the assets of which, at such time as may be prescribed, are

insufficient to satisfy in full the liabilities of the scheme

calculated in the prescribed manner,”.

Notices of Amendments: 7th February 2008

320

Pensions Bill, continued

(4)	Omit the definition of “scheme’s pension liabilities” and the words from “and a

qualifying pension scheme” to the end.’.

Member’s explanatory statement

This New Clause extends the 'qualifying member' definition in section 286 of the Pensions Act 2004

(which provides for financial assistance for members of certain pension schemes), so that all rel­

evant members can be qualifying members regardless of whether their liabilities are likely to be

met by their scheme.

Mr Mike O’Brien

189

Schedule  8,  page  87,  line  33,  at end insert—

‘Part 2A

Financial assistance scheme

	Title	Extent of repeal
	Pensions Act 2004 (c. 35)	In section 286(2) the definition of “scheme’s pension
		liabilities” and the words from “and a qualifying
		pension scheme” to the end.’.

Member’s explanatory statement

This amendment relates to a repeal made by NC20.

Personal account sharing on divorce

Mr Nigel Waterson

Andrew Selous

James Duddridge

NC21

To move the following Clause:—

‘(1)	Any sum may be transferred from one personal account into another personal

account when—

(a)	a divorce or dissolution of a civil partnership leads to a court order or

agreement by mutual consent splitting the assets of the parties concerned;

(b)	the court order or agreement by mutual consent instructs that a proportion

of the value of the personal account of the transferor should be made the

property of the transferee; and

(c)	both the transferor and the transferee hold a personal account.

(2)	In this section “the transferor” and “the transferee” shall be defined as in section

83 of this Act.’.

Member’s explanatory statement

This New Clause is intended to ensure fair treatment of divorcing couples or separating civil part­

ners within the personal accounts system.

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Revised 8 February 2008