19

House of Commons

Notices of Amendments

given on

Wednesday 28 January 2009

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

Saving Gateway Accounts Bill Committee 12-15 and 17

Public Bill Committee

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Saving Gateway Accounts Bill

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.’.

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

26

Clause  3,  page  2,  line  21,  after ‘(b)’, insert ‘income-based’.

Mr Mark Hoban

27

Clause  3,  page  2,  line  22,  after ‘(c)’, insert ‘income-based’.

Notices of Amendments: 28 January 2009

20

Saving Gateway Accounts Bill, continued

Mr Mark Hoban

28

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

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

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.’.

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 Mark Hoban

31

Page  4,  line  21,  leave out Clause 7.

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.’.

Mr Mark Hoban

32

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

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 Mark Hoban

34

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

month’.

Mr Mark Hoban

35

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

Notices of Amendments: 28 January 2009

21

Saving Gateway Accounts Bill, continued

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’.

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.’.

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Revised 29 January 2009