25

House of Commons

Tuesday 3 February 2009

Public Bill Committee

New Amendments handed in are marked thus

Amendments which will comply with the required notice period at their next appearance

Saving Gateway Accounts Bill

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Mr Jeremy Browne

Mr Colin Breed

1

Clause  1,  page  1,  line  4,  leave out from ‘by’ to end of line 5 and insert ‘an eligible

person (within the meaning given by section 3).’.

Mr Jeremy Browne

Mr Colin Breed

2

Clause  1,  page  1,  line  15,  leave out subsection (3).

Mr Jeremy Browne

Mr Colin Breed

3

Clause  2,  page  2,  line  6,  leave out paragraph (a).

Mr Mark Hoban

22

Clause  2,  page  2,  line  11,  after ‘person’, insert ‘but the person has not opened a

Saving Gateway account’.

Mr Mark Hoban

23

Clause  2,  page  2,  line  12,  at end add ‘The expiry date is either three months after

the issue of a notice of eligibility or cessation of eligibility as defined in section 3,

whichever is earlier.’.

Public Bill Committee: 3 February 2009

26

Saving Gateway Accounts Bill, continued

Mr Jeremy Browne

Mr Colin Breed

4

Clause  3,  page  2,  line  17,  leave out paragraph (b).

Mr Mark Hoban

26

Clause  3,  page  2,  line  21,  at beginning insert ‘income-based’.

Mr Mark Hoban

27

Clause  3,  page  2,  line  22,  at beginning insert ‘income-based’.

Mr Jeremy Browne

Mr Colin Breed

5

Clause  3,  page  2,  line  28,  at end insert—

‘(h)	carers allowance;

(i)	housing benefit;

(j)	council tax benefit.’.

Dr Stephen Ladyman

39

Clause  3,  page  2,  line  28,  at end insert—

‘(h)	Carers Allowance.’.

Mr Jeremy Browne

Mr Colin Breed

6

Clause  3,  page  2,  line  31,  at end insert—

‘(3A)

Each person entitled to a benefit or tax credit with another person is eligible to

hold a Saving Gateway Account regardless of whether the other person holds an

account or not.’.

Mr Mark Hoban

24

Clause  3,  page  2,  line  34,  after ‘credit’, insert ‘where their income is below the

threshold for child tax credit and’.

Mr Mark Hoban

25

Clause  3,  page  2,  line  36,  leave out sub-paragraph (a).

Mr Mark Hoban

28

Clause  4,  page  3,  line  20,  at end insert—

‘(d)	The Maturity Period shall not be less than 2 years.’.

Public Bill Committee: 3 February 2009

27

Saving Gateway Accounts Bill, continued

Mr Mark Hoban

29

Clause  4,  page  3,  line  21,  leave out subsection (3) and insert—

‘( )	The limit on the amount which may be paid into the Saving Gateway account in

a month (excluding any interest or other sums paid by the account provider under

the terms of the account) shall be £25.’.

Dr Stephen Ladyman

19

Clause  5,  page  3,  line  36,  at end add—

‘(3)	Approved account providers must be persons who are regulated by the Financial

Services Authority under the Financial Services and Markets Act 2000.

(4)	Regulations may limit approved account providers to persons from any or all of

the following—

(a)

Banks;

(b)	Building Societies;

(c)	Friendly Societies;

(d)	Credit Unions;

(e)	Industrial and Provident Societies;

(f)	Post Office Ltd.’.

John Howell

38

Clause  6,  page  4,  line  10,  at end insert—

‘(4A)

An account provider may not unreasonably refuse to open an account for an

eligible person.’.

Mr Mark Hoban

30

Clause  6,  page  4,  line  11,  leave out subsection (5) and insert—

‘( )	Regulations shall make provision preventing a person from holding more than

one Saving Gateway account during the person’s lifetime.’.

Mr Jeremy Browne

Mr Colin Breed

7

Clause  6,  page  4,  line  11,  leave out subsection (5).

Public Bill Committee: 3 February 2009

28

Saving Gateway Accounts Bill, continued

Mr Mark Hoban

31

Page  4,  line  21,  leave out Clause 7.

Mr Mark Hoban

32

Clause  8,  page  4,  line  31,  leave out from ‘is’ to end and insert ‘50 pence’.

Mr Jeremy Browne

Mr Colin Breed

8

Clause  8,  page  4,  line  32,  leave out from second ‘the’ to ‘the’ in line 33 and insert

‘final account balance at the end of’.

Mr Jeremy Browne

Mr Colin Breed

9

Clause  8,  page  4,  line  33,  at end insert—

‘(2A)

An account holder shall qualify for a reduced maturity payment where a Saving

Gateway account is closed after a period of twelve months but before the end of

the maturity period.

(2B)	The reduced maturity payment in relation to a Saving Gateway account shall be

specified in regulations.’.

Mr Jeremy Browne

Mr Colin Breed

10

Clause  8,  page  4,  line  41,  leave out from ‘within’ to ‘beginning’ and insert ‘one

month’.

Mr Jeremy Browne

Mr Colin Breed

11

Clause  8,  page  5,  line  1,  leave out subsection (5).

Mr Mark Hoban

33

Clause  9,  page  5,  line  8,  leave out paragraph (c) and insert—

‘(1A)

Account providers will be required to send statements to the holder at not less

than 6 month intervals.’.

Mr Edward Timpson

37

Clause  9,  page  5,  line  8,  at end insert—

Public Bill Committee: 3 February 2009

29

Saving Gateway Accounts Bill, continued

‘(d)	specify that a statement may be sent electronically.’.

Mr Mark Hoban

34

Clause  11,  page  5,  line  34,  leave out from ‘within’ to end of line 34 and insert ‘one

month’.

Dr Stephen Ladyman

20

Clause  13,  page  6,  line  8,  leave out ‘may’ and insert ‘must’.

Dr Stephen Ladyman

21

Clause  13,  page  6,  line  16,  at end insert ‘but may not prescribe a rate of interest that

is less than the Bank of England Base Rate;’.

Mr Mark Hoban

35

Clause  14,  page  6,  line  24,  leave out ‘may’ and insert ‘will’.

Mr Mark Hoban

36

Clause  16,  page  7,  line  9,  at end insert—

‘(1A)

Funds in the account will be transferred into an Individual Savings Account as set

out in the Finance Act 1998 (c. 36) of the kind prescribed by regulations and

operated by the provider of the Saving Gateway account in question.’.

Mr Jeremy Browne

Mr Colin Breed

12

Clause  21,  page  9,  line  39,  leave out ‘£300’ and insert ‘£3,000’.

Public Bill Committee: 3 February 2009

30

Saving Gateway Accounts Bill, continued

Mr Jeremy Browne

Mr Colin Breed

13

Clause  22,  page  10,  line  24,  leave out ‘issued’ and insert ‘received’.

Mr Jeremy Browne

Mr Colin Breed

14

Clause  24,  page  11,  line  7,  leave out ‘given’ and insert ‘received’.

Ian Pearson

40

Clause  24,  page  11,  line  8,  leave out ‘an appeal’ and insert ‘a tax appeal or a

Northern Ireland appeal’.

Ian Pearson

41

Clause  24,  page  11,  line  14,  at end insert—

‘( )	In subsection (2)—

“tax appeal” means an appeal in any part of the United Kingdom against a

requirement to account for an amount under regulations made under

section 14;

“Northern Ireland appeal” means an appeal in Northern Ireland against any

other requirement or decision.’.

Mr Jeremy Browne

Mr Colin Breed

15

Clause  27,  page  13,  line  1,  leave out ‘The first’.

Mr Jeremy Browne

Mr Colin Breed

16

Clause  27,  page  13,  line  4,  leave out subsection (6).

Mr Jeremy Browne

Mr Colin Breed

17

Clause  27,  page  13,  line  7,  leave out ‘The first’.

Public Bill Committee: 3 February 2009

31

Saving Gateway Accounts Bill, continued

Mr Jeremy Browne

Mr Colin Breed

18

Clause  27,  page  13,  line  11,  leave out subsection (8).

new clauses

Transfers

Mr Mark Hoban

NC1

To move the following Clause:—

‘The only circumstances in which a Saving Gateway account held with one

account provider may be transferred to another is when the account provider is

subject to the Banking Special Provisions Act 2008.’.

Payment of interest

Mr Mark Hoban

NC2

To move the following Clause:—

‘There shall be no requirement for providers of Saving Gateway accounts to pay

interest’.

Order of the House [13 JANUARY 2009]

That the following provisions shall apply to the Saving Gateway Accounts Bill:

Committal

1.	The Bill shall be committed to a Public Bill Committee.

Proceedings in Public Bill Committee

2.	Proceedings in the Public Bill Committee shall (so far as not previously

concluded) be brought to a conclusion on Tuesday 10 February 2009.

3.	The Public Bill Committee shall have leave to sit twice on the first day on

which it meets.

Consideration and Third Reading

4.	Proceedings on consideration shall (so far as not previously concluded) be

brought to a conclusion one hour before the moment of interruption on the

day on which those proceedings are commenced.

5.	Proceedings on Third Reading shall (so far as not previously concluded) be

brought to a conclusion at the moment of interruption on that day.

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Revised 3 February 2009