135

House of Commons

Wednesday 25 February 2009

Consideration of Bill

New Amendments handed in are marked thus

Saving Gateway Accounts Bill, As Amended

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Mr Mark Hoban

11

Page  1,  line  15  [Clause  1],  at beginning insert ‘Subject to subsection (4) below,’.

Mr Mark Hoban

12

Page  1,  line  19  [Clause  1],  at end insert—

‘(4)	If a person was eligible to receive a notice of entitlement by virtue of section 3(1)

but had ceased to be eligible before the notice of eligibility was issued, then the

person is still entitled to receive that notice.’.

Mr Mark Hoban

3

Page  2,  line  16  [Clause  3],  after ‘(2)’, insert ‘or the person is aged between 18 and

65 and has an annual income of less than that prescribed by regulations;’.

Mr Mark Hoban

4

Page  2,  line  35  [Clause  3],  leave out ‘subsection’ and insert ‘subsections (1) and’.

Mr Mark Hoban

13

Page  3,  line  3  [Clause  3],  at end insert—

‘(8)	The Treasury will each year lay before Parliament a report which sets out the

number of people who—

(a)	are eligible to hold a Savings Gateway account by being entitled to each

of the benefits and tax credits listed in subsection (2) above;

(b)	are aged between 18 and 65 years old and earn less than any amount

prescribed under regulations made under subsection (4) above; and

(c)	have opened a Savings Gateway account in that year.’.

Consideration of Bill: 25 February 2009

136

Saving Gateway Accounts Bill, continued

Mr Mark Hoban

5

Page  3,  line  33  [Clause  5],  at end insert—

‘(1A)

Conditions imposed under subsection (1)(a) shall have regard to

(a)	location of the provider’s premises;

(b)	the provider’s commitment to financial education; and

(c)	the provider’s willingness to expand access to broader financial

services.’.

Mr Mark Hoban

2

Page  4,  line  19  [Clause  6],  at end insert—

‘(6)	After the first exercise of the powers in subsection (5), the Treasury will be

required to consult interested parties on any changes to those regulations and lay

a copy of the report on this consultation before Parliament before any further

regulations are made.’.

Mr Mark Hoban

6

Page  5,  line  25  [Clause  11],  leave out paragraph (e).

Mr Mark Hoban

1

Page  7,  line  9  [Clause  16],  at end insert—

‘(1A)

Subject to subsection (1B), funds in the account will be transferred into an

account which pays interest at a rate which is equal to or greater than the rate paid

on funds held in an Individual Savings Account as set out in the Finance Act 1998

(c. 36) operated by the Savings Gateway Account provider in question.

(1B)	Where an account provider does not operate an Individual Savings Account, the

amounts will be transferred into an account that it provides which—

(a)	has no penalty for the withdrawal of funds without notice; and

(b)	offers a rate equal to or higher than the highest interest rate offered on

other accounts operated by the provider.’.

Mr Mark Hoban

9

Page  13,  line  4  [Clause  27],  after ‘(4)’, insert ‘, 4’.

Consideration of Bill: 25 February 2009

137

Saving Gateway Accounts Bill, continued

Mr Mark Hoban

10

Page  13,  line  4  [Clause  27],  after ‘(4)’, insert ‘, 6’.

Mr Mark Hoban

7

Page  13,  line  7  [Clause  27],  leave out ‘The first’.

Mr Mark Hoban

8

Page  13,  line  10  [Clause  27],  leave out subsection (6).

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.

6.	Standing Order No. 83B (Programming committees) shall not apply to

proceedings on consideration and Third Reading.

Other proceedings

7.	Any other proceedings on the Bill (including any proceedings on any

message from the Lords) may be programmed.

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Revised 25 February 2009