HC Deb 14 July 1987 vol 119 c1054

Question proposed, That the clause stand part of the Bill.

Mr. Blair

I wish merely to raise a query that has been put to me. I understand that the purpose of the clause is to ensure that if a pension fund makes a payment that it should not make and the payment is therefore unathorised, there will he a tax on the payment. In other words, tax relief will be lost. It would seem that this is a method of ensuring that there is compliance with the rules that involves placing a penalty on pension funds that pay out when they should not do so. I am sure that this is a negligible or rare practice, but I shall be grateful for the Minister's confirmation.

Mr. Norman Lamont

That is correct.

Question put and agreed to.

Clause 44 ordered to stand part of the Bill.

Clauses 45 to 51 ordered to stand part of the Bill.

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