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3

 

House of Commons

 
 

Tuesday 3 February 2009

 

Public Bill Committee Proceedings

 

Saving Gateway Accounts Bill


 

[Third and Fourth Sittings]


 

Mr Jeremy Browne

 

Mr Colin Breed

 

Withdrawn  1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

 

Not called  2

 

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

 

Clause Agreed to.

 


 

Mr Jeremy Browne

 

Mr Colin Breed

 

Withdrawn  3

 

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

 

Mr Mark Hoban

 

Withdrawn  22

 

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

 

Saving Gateway account’.

 

Mr Mark Hoban

 

Not called  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.’.

 

Clause Agreed to.

 



 
 

Public Bill Committee Proceedings: 3 February 2009        

4

 

Saving Gateway Accounts Bill, continued

 
 

Mr Jeremy Browne

 

Mr Colin Breed

 

Withdrawn  4

 

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

 

Mr Mark Hoban

 

Withdrawn  26

 

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

 

Mr Mark Hoban

 

Not called  27

 

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

 

Mr Jeremy Browne

 

Mr Colin Breed

 

Withdrawn  5

 

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

 

‘(h)    

carers allowance;

 

(i)    

housing benefit;

 

(j)    

council tax benefit.’.

 

Dr Stephen Ladyman

 

Not called  39

 

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

 

‘(h)    

Carers Allowance.’.

 

Mr Jeremy Browne

 

Mr Colin Breed

 

Withdrawn  6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

 

Withdrawn  24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

 

Not called  25

 

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

 

Clause Agreed to.

 


 

Mr Mark Hoban

 

Withdrawn  28

 

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

 

‘(d)    

The Maturity Period shall not be less than 2 years.’.


 
 

Public Bill Committee Proceedings: 3 February 2009        

5

 

Saving Gateway Accounts Bill, continued

 
 

Mr Mark Hoban

 

Withdrawn  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.’.

 

Clause Agreed to.

 


 

Dr Stephen Ladyman

 

Withdrawn  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.’.

 

Clause Agreed to.

 


 

John Howell

 

Withdrawn  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

 

Withdrawn  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

 

Not called  7

 

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

 

Clause Agreed to.

 



 
 

Public Bill Committee Proceedings: 3 February 2009        

6

 

Saving Gateway Accounts Bill, continued

 
 

Mr Mark Hoban

 

Not selected  31

 

Page  4,  line  21,  leave out Clause 7.

 

Clause Agreed to.

 


 

Mr Mark Hoban

 

Withdrawn  32

 

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

 

Mr Jeremy Browne

 

Mr Colin Breed

 

Withdrawn  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

 

Withdrawn  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

 

Withdrawn  10

 

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

 

month’.

 

Mr Jeremy Browne

 

Mr Colin Breed

 

Not called  11

 

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

 

Clause Agreed to.

 


 

Mr Mark Hoban

 

Withdrawn  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.’.


 
 

Public Bill Committee Proceedings: 3 February 2009        

7

 

Saving Gateway Accounts Bill, continued

 
 

Mr Edward Timpson

 

Withdrawn  37

 

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

 

‘(d)    

specify that a statement may be sent electronically.’.

 

Clause Agreed to.

 

Clause 10 Agreed to.

 


 

Mr Mark Hoban

 

Withdrawn  34

 

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

 

month’.

 

Clause Agreed to.

 

Clause 12 Agreed to.

 

[Adjourned until Thursday at 9.00 am.


 
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