HC Deb 29 July 1976 vol 916 cc942-3

Amendments made: No. 159, in page 62, leave out lines 1 to 28 and insert: '(4) Subject to subsection (4B) below, the Secretary of State may by regulations made by statutory instrument, subject to annulment in pursuance of a resolution of either House of Parliament, make, in relation to any pension scheme not made under subsection (1) above (in this section referred to as an "existing scheme") which provides for pensions to or in respect of persons who are or have been employed by a company which becomes a wholly owned subsidiary of either Corporation such provision as appears to him to be expedient in consequence of its having become such a subsidiary. (4A) Without prejudice to the generality of subsection (4) above, regulations under that subsection may make provision—

  1. (a) for the complete or partial amalgamation of existing schemes either with other such schemes or with schemes established under subsection (1) above;
  2. (b) for amending, repealing or revoking any existing schemes, any enactment relating to an existing scheme or to a scheme resulting from an amalgamation under paragraph (a) above or any trust deed, rules or other instrument made for the purposes of an existing scheme or of a scheme resulting from such an amalgamation;
  3. (c) for the complete or partial transfer of liabilities and obligations under existing schemes or for reducing or extinguishing such liabilities or obligations;
  4. (d) for the complete or partial transfer, or the winding-up, of any pension fund held for the purposes of an existing scheme; and
  5. (e) for supplemental or consequential matters'.

No. 160, in page 62, line 29, leave out 'but nothing in this subsection' and insert: '(4B) Nothing in subsection (4) or (4A) above'.

No. 161, in page 62, line 33, leave out from 'to' to 'under' in line 38 and insert: 'subsection (5A) below, regulations'.

No. 162, in page 62, line 42, at end insert: '(5A) Regulations under subsection (4) above may make exceptional provisions to meet cases in which, in connection with any provision made by this Act or in anticipation of the making of any such provision, pension rights have been created otherwise than in the ordinary course'.

No. 163, in page 63, line 2, leave out from 'regulations' to 'shall' in line 4 and insert: '(6A) Any question whether or not the result referred to in subsection (5) above has been secured by regulations under subsection (4) above, including any question whether it has been secured by amending regulations under that subsection made in pursuance of subsection (6) above,'.

No. 164, in page 63, line 17, after 'above', insert: 'other than a provision expressed to be made to meet a case such as is mentioned in subsection (5A) above'.

No. 165, in page 63, line 18, leave out 'either' and insert 'that'.

No. 166, in page 63, line 20, leave out from 'scheme' to 'that' in line 21.

No. 167, in page 63, line 44, leave out subsection (10).

No. 168, in page 64, line 3, leave out subsection (11).—[Mr. Kaufman.]

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