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1155

 

House of Commons

 
 

Wednesday 10 November 2010

 

Committee of the whole House

 

Equitable Life (Payments) Bill


 

Mr Fabian Hamilton

 

Frank Dobson

 

Bob Blackman

 

Caroline Lucas

 

1

 

Clause  1,  page  1,  line  7,  at end insert—

 

‘(2A)    

Payments authorised by the Treasury under this section to with-profits annuitants

 

shall be made without regard to the date on which such policies were taken out.’.

 

Chris Leslie

 

Mr David Hanson

 

Kerry McCarthy

 

2

 

Clause  1,  page  1,  line  7,  at end insert—

 

‘(2A)    

The Parliamentary Commissioner for Administration shall report to Parliament

 

on the implications for payments to which this section applies of the findings of

 

the Independent Commission on Equitable Life Payments, no later than one

 

month after the publication of such findings.’.

 

Chris Leslie

 

Mr David Hanson

 

Kerry McCarthy

 

3

 

Clause  1,  page  1,  line  7,  at end insert—

 

‘(2B)    

The design and administration of any scheme of payments to which this section

 

applies shall be independent of government.’.

 

Chris Leslie

 

Mr David Hanson

 

Kerry McCarthy

 

4

 

Clause  1,  page  1,  line  7,  at end insert—

 

‘(2C)    

The Treasury shall publish details of the independent appeals procedure for

 

policyholders as defined in subsection (2) above to use in the event of dispute

 

over the compensation payment decision in their case, no later than three months

 

after commencement of this Act.’.


 
 

Committee of the whole House: 10 November 2010            

1156

 

Equitable Life (Payments) Bill, continued

 
 

Chris Leslie

 

Mr David Hanson

 

Kerry McCarthy

 

5

 

Clause  1,  page  1,  line  7,  at end insert—

 

‘(2D)    

The Treasury shall lay before Parliament details of the timings and planned dates

 

for payments of compensation to which this section applies, no later than three

 

months after commencement of this Act.’.

 

Frank Dobson

 

Bob Blackman

 

7

 

Clause  1,  page  1,  line  7,  at end insert—

 

‘(2A)    

In determining the amount of the payments that it is appropriate for the Treasury

 

to authorise under subsection (2), the Treasury must have regard to such matters

 

relating to the adverse effects of that maladministration on those persons and the

 

proper calculation of their resulting losses as have been determined by the

 

Parliamentary Commissioner for Administration to be relevant to and appropriate

 

for that calculation.’.

 

Frank Dobson

 

Bob Blackman

 

8

 

Clause  1,  page  1,  line  7,  at end insert—

 

‘(2A)    

After determining the total amount of the payments that the Treasury is to

 

authorise under subsection (2) and the persons to whom those payments are to be

 

made, the Treasury must secure—

 

(a)    

that each of those persons is paid the full amount due to that person in a

 

single payment, and

 

(b)    

that the single payment is made as soon as practicable.’.

 

Mark Hoban

 

6

 

Clause  1,  page  1,  line  20,  at end insert—

 

‘( )    

The functions of the Director of Savings include anything the Director is

 

appointed by the Treasury to do in connection with payments to which this

 

section applies.’.

 


 

New Clause

 

Distribution of payments

 

Bob Blackman

 

NC1

 

To move the following Clause:—

 

‘(1)    

An independent payments commission shall be established comprising three

 

members appointed by the Secretary of State.

 

(2)    

The independent payments commission shall design a distribution scheme for

 

payments made arising from this Act.


 
 

Committee of the whole House: 10 November 2010            

1157

 

Equitable Life (Payments) Bill, continued

 
 

(3)    

In designing a distribution scheme under subsection (2) the independent

 

payments commission shall consult with interested parties, including the

 

Equitable Life Assurance Society and representatives of policyholders.

 

(4)    

The Treasury may make provision by order made by statutory instrument for

 

payments to be made in line with the distribution scheme designed by the

 

independent payments commission.

 

(5)    

A statutory instrument containing an order under subsection (4) may not be made

 

unless a draft has been laid before and approved by resolution of each House of

 

Parliament.’.

 

 

Order of the House [14 September 2010]

 

That the following provisions shall apply to the Equitable Life (Payments) Bill:

 

Committal

 

1.    

The Bill shall be committed to a Committee of the whole House.

 

Proceedings in Committee, on consideration and on Third Reading

 

2.    

Proceedings in Committee, any proceedings on consideration and

 

proceedings on Third Reading shall be completed at one day’s sitting.

 

3.    

Proceedings in Committee and any 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.

 

4.    

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

 

brought to a conclusion one hour after the commencement of those

 

proceedings or at the moment of interruption on that day, whichever is earlier.

 

5.    

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

 

proceedings on the Bill in Committee and on consideration and Third

 

Reading.

 


 
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