Saving Gateway Accounts Bill
MARSHALLED
LIST OF AMENDMENTS
TO BE MOVED
ON REPORT
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.
| 1 | Page 3, line 28, at end insert— |
| "( ) | Regulations under subsection (2)(a) may not prescribe a period of less than 12 months." |
| 2 | Page 3, line 28, at end insert— |
| "( ) | Regulations may not require an account provider to pay interest on a Saving Gateway account." |
| 3 | Page 3, line 29, after "Regulations" insert "under subsection (2)(c)" |
| 4 | Page 3, line 32, leave out "subsection (3)" and insert "this section" |
| 5 | Page 4, line 25, 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| (a) | the Commissioners have withdrawn approval of an account provider, |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)." |
| 6 | Page 4, line 27, leave out paragraph (a) |
| 7 | Page 4, line 36, after "pence)" insert "not exceeding 100 pence" |
| 8 | Page 5, line 15, leave out paragraph (c) and insert— |
| "( ) | Regulations must provide that account providers must provide statements at intervals of no less than six months except in respect of the final statement where the Saving Gateway account is closed whether by transfer or otherwise." |
| 9 | Page 5, line 21, at end insert— |
| "( ) | An account shall cease to be a Saving Gateway account if it is assigned or charged or is the subject of an agreement to assign or charge." |
| 10 | 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— |
| (a) | the number of people who were eligible persons, |
| (b) | the number of people to whom notices of eligibility were issued, |
| (c) | the number of Saving Gateway accounts opened, |
| (d) | the number of Saving Gateway accounts closed prior to maturity, |
| (e) | the number of Saving Gateway accounts in respect of which maturity payments were made and the aggregate amount of those payments, |
| (f) | the 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." |
| 11 | Page 6, line 7, at end insert— |
| "( ) | Regulations made under this section may make provision for an account holder to account to the Commissioners in respect of amounts paid due to an error or mistake by an officer of Her Majesty's Revenue and Customs only if the account holder materially contributed to the error or mistake." |
| 12 | Page 6, line 7, 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." |
| 13 | Page 7, line 16, 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." |
| 14 | Insert the following new Clause— |
| | "Review and report to Parliament |
| (1) | The Commissioners must make arrangements for an independent review of— |
| (a) | the effect of Saving Gateway accounts on attitudes to saving money among persons who are or have been holders of Saving Gateway accounts; |
| (b) | the effect of Saving Gateway accounts on the behaviour of such persons in relation to saving money; |
| (c) | the effect of Saving Gateway accounts on the involvement of such persons with institutions offering financial services; |
| 13 | (d) whether there are any barriers to the opening of Saving Gateway accounts by eligible persons; and |
| (e) | any other matters which the Commissioners and the Treasury agree should be considered. |
| (2) | The Commissioners must consult the Treasury before making the arrangements for the review. |
| 18 | (3) The Commissioners must provide the results and conclusions of the review to the Treasury. |
| 21 | (4) The Treasury must set out the results and conclusions in a report and lay the report before Parliament. |
| 23 | (5) The report must be laid before Parliament within the seven years beginning with the coming into force of section 6." |
| | [Amendments 15 to 18 are amendments to amendment 14] |
| 15 | Line 13, at end insert— |
| "( ) | whether the provision of financial information and advice to such persons in connection with Saving Gateway accounts is satisfactory; |
| ( ) | the impact of the provisions in this Act in relation to eligibility, including notices of eligibility; |
| ( ) | whether there are any barriers to persons seeking to become approved account providers;" |
| 16 | Leave out lines 18 to 21 and insert— |
| "( ) | The Commissioners must arrange for the person carrying out the independent review to provide a report of the results and conclusions of the review and send the report to the Treasury. |
| ( ) | The Treasury must lay the report before each House of Parliament." |
| 17 | Line 21, after "before" insert "each House of" |
| 18 | Line 23, at end insert— |
| "( ) | In this section, "independent review" means a review carried out by a person who is independent of the Treasury and the Commissioners." |
| 19 | Page 13, line 14, after "or (5)" insert ", 4(2)(a) or (3), 6(5)" |
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