Saving Gateway Accounts Bill
SECOND
MARSHALLED
LIST OF AMENDMENTS
TO BE MOVED
IN GRAND COMMITTEE
The amendments have been marshalled in accordance with the Instruction of 21st July 2008, as follows—
[Amendments marked * are new or have been altered]
Amendment
No.
| 33 | Page 4, line 20, at end insert— |
| "( ) | A Saving Gateway account held with one account provider may be transferred to another account provider only where— |
| (a) | the Commissioners have withdrawn approval of an account provider, |
| (b) | an account provider is the subject of the special resolution regime provided by the Banking Act 2009 (c. 1)." |
| 34 | Page 4, line 22, leave out paragraph (a) |
| 35 | Page 4, line 31, after "pence)" insert "not exceeding 100 pence" |
| 36 | Page 5, line 8, leave out paragraph (c) and insert— |
| "( ) | Regulations must provide that account providers must provide statements at intervals of no less than 6 months except in respect of the final statement where the Saving Gateway account is closed whether by transfer or otherwise." |
| 37 | Page 5, line 8, at end insert— |
| "( ) | Regulations must provide that statements are available in hard copy form unless the holders of a Saving Gateway account consents to statements being provided electronically or in some other way." |
| 38 | Page 5, line 12, at end insert— |
| "( ) | An account ceases to be a Saving Gateway account if it is sold, transferred or charged as security by the account holder." |
| 39 | Insert the following new Clause— |
| (1) | The Treasury will each year lay a report before Parliament setting out information about the operation of Saving Gateway accounts. |
| (2) | The report must contain information for the year about the— |
| (a) | number of people who were eligible persons, |
| (b) | number of people to whom notices of eligibility were issued, |
| (c) | number of Saving Gateway accounts opened, |
| (d) | number of Saving Gateway accounts closed prior to maturity, |
| (e) | number of Saving Gateway accounts in respect of which maturity payments were made and the aggregate amount of those payments, |
| (f) | number of approved account providers. |
| (3) | The first report will cover the period from the date that the first Saving Gateway accounts may be opened to the following 31 March and subsequent reports will cover successive periods of 12 months." |
| 40 | Insert the following new Clause— |
| | "Report on effectiveness of Saving Gateway accounts |
| (1) | The Treasury shall appoint an independent person to carry out a review of the effectiveness of Saving Gateway accounts and to prepare a report as a result of that review. |
| (2) | The review shall consider in particular— |
| (a) | the take up of Saving Gateway accounts, |
| (b) | the extent to which Saving Gateway accounts resulted in regular savings both before and after the maturity of those accounts, |
| (c) | any barriers to the wide use of Saving Gateway accounts, |
| (d) | the provision of and need for financial education for Saving Gateway account holders, |
| (e) | any other matters which the independent reviewer considers relevant to a consideration of the effectiveness of Saving Gateway accounts. |
| (3) | A review must be carried out after the fourth anniversary of the issue of the first notice of eligibility under section 2 and the report following the review must be delivered to the Treasury before the fifth anniversary of that issue. |
| (4) | The Treasury shall lay the report received under this section before each House of Parliament and shall publish it in such manner as it thinks appropriate. |
| (5) | In this section "independent" means independent of the Treasury and of any providers of Saving Gateway accounts." |
| 41 | Page 5, line 40, at end insert— |
| "( ) | Regulations made under this section may only make provision in respect of amounts paid due to an error or mistake by an office of Her Majesty's Revenue and Customs if the person required to account to the Commissioners materially contributed to the error or mistake." |
| 42 | Page 5, line 40, at end insert— |
| "( ) | Regulations made under this section may not provide for an account provider to account to the Commissioners for an amount which it has paid in good faith to an account holder or other person entitled in law to receive that amount." |
| 43 | Page 6, line 25, leave out "may" and insert "shall" |
| 44 | Page 7, line 9, at end insert— |
| "( ) | Regulations may make provision about the transfer of funds from an account when it ceases to be a Saving Gateway account if the account holder has not given instructions to the account provider as to the disposition of the funds." |
| 45 | Page 8, line 7, at end insert— |
| "( ) | Information obtained by Her Majesty's Revenue and Customs as a consequence of the amendents made by this section may be used only for the purposes of administering Saving Gateway accounts." |
| 46 | Page 8, line 10, after "deliberately" insert "or carelessly" |
| 47 | Page 12, line 29, leave out "three" and insert "two" |
| 48 | Page 13, line 7, leave out "The first" |
| 49 | Page 13, line 10, leave out subsection (6) |
|
