HC Deb 20 May 2004 vol 421 cc1146-9

Amendments made: No. 156, in page 271, line 35, at end insert— '. In section 56 (provision supplementary to provision relating to payment of state scheme premiums), in subsection (4) for the words from the beginning to "another scheme" substitute— (4) Where under the rules of the scheme, transfer credits have been allowed—

  1. (a) in respect of the earner's rights under another scheme, or
  2. (b) in respect of the earner by reference to the payment of a cash transfer sum (within the meaning of Chapter 5 of Part 4) to the trustees or managers of the scheme by the trustees or managers of another occupational pension scheme,".'.

No. 157, in page 271, line 35, at end insert— '. In section 61 (deduction of contributions equivalent premium from refund of scheme contributions), after subsection (9) insert— (9A) Where under section 101AH the trustees or managers of an occupational pension scheme may pay a contribution refund to a member of the scheme, the member is to be treated for the purposes of this section as being entitled to the contribution refund.".'.

No. 158, in page 271, line 35, at end insert— '. In section 94(2) (right to cash equivalent), for the definition of "the applicable rules" substitute— "the applicable rules" means—

  1. (a) the rules of the scheme, except so far as—
    1. (i) paragraph 3 of Schedule 5 to the Social Security Act 1989,
    2. (ii) section 129 of this Act,
    3. (iii) section 117 of the Pensions Act 1995,
    4. (iv) section 31(4) of the Welfare Reform and Pensions Act 1999 (pension debits: reduction of benefit), or
    5. (v) section 264 of the Pensions Act 2004,
    overrides them;
  2. (b) any provision of any of those Acts which overrides or modifies any of the rules of the scheme by virtue of one of the provisions mentioned in paragraph (a); and
  3. (c) any provision which the rules of the scheme do not contain but which the scheme must contain if it is to conform with Chapter 1 of Part 4 of this Act;".'.

No. 159, in page 272, line 6, at end insert— ' After section 113 insert—

"113A Disclosure of information about transfers etc Regulations may provide that, where—

  1. (a) a payment is made out of an occupational pension scheme to the trustees or managers of another occupational pension scheme, and
  2. (b) transfer credits are allowed to a member of that other scheme in respect of the payment,
the trustees or managers of the first scheme must, in prescribed circumstances and in the prescribed manner, provide to the trustees or managers of the other scheme prescribed information relating to the payment.".'.

No. 160, in page 272, line 6, at end insert— '. In section 129(1) (overriding requirements), for "and IV" substitute ", IV and V".'.

No. 161, in page 272, line 6, at end insert— '. In section 130(b) (extra-statutory benefits), for "or IV" substitute ", IV or V".'.

No. 162, in page 272, line 37, at end insert—

  1. '. (1) Section 179 (linked qualifying service) is amended as follows.
  2. (2) In subsection (1)(a)—
    1. (a) for "the rules of a scheme" substitute "Chapter 4 or 5 of Part 4 or under the rules of a scheme",
    2. (b) for sub-paragraph (i) substitute—
      1. "(i) there was made a transfer of his rights (which may include conditional rights or any transfer credits allowed) under that scheme, or a transfer payment in respect of those rights, to, or to the trustees or managers of, another scheme applying to him in the later period of service;",
    3. (c) for "and" at the end of sub-paragraph (ii), substitute "or", and
    4. (d) after that sub-paragraph insert—
      1. "(iii) a cash equivalent (within the meaning of Chapter 4 of Part 4) or cash transfer sum (within the meaning of Chapter 5 of that Part) was paid in respect of him to the trustees or managers of another scheme applying to him in the later period of service; and".
  3. (3) In subsection (1)(b), after "second scheme," insert ", or the payment to the trustees or managers of that scheme,".'.

No. 163, in page 272, line 37, at end insert— '. In section 181(1) (general interpretation), in the definition of "transfer credits", for the words following "by reference to" substitute "—

  1. (a) a transfer to the scheme of, or transfer payment to the trustees or managers of the scheme in respect of, any of his rights (which may include conditional rights and transfer credits allowed) under another scheme, other than rights attributable (directly or indirectly) to a pension credit, or
  2. (b) a cash transfer sum paid under Chapter 5 of Part 4 in respect of him, to the trustees or managers of the scheme.".'.

No. 164, in page 272, line 37, at end insert— '. In section 183(3) (sub-delegation), after "97(1)" insert ", 101AF(1)".'.

No. 165, in page 272, line 42, after '145A', insert '(except subsection (6)(b))'.

No. 166, in page 273, line 45, at end insert— '.In section 34 (powers of investment and delegation) in subsection (1) after "subject to" insert "section 36(1) and to".

No. 167, in page 274, line 1, leave out paragraph 29.

No. 175, in page 274, line 3, leave out paragraph 30.

No. 176, in page 274, line 44, leave out paragraph 38 and insert— '38 In section 69 (grounds for applying modifications)—

  1. (a) in subsection (2) for "about the manner of dealing with applications under this section" substitute "requiring applications under this section to meet prescribed requirements'',
  2. (b) in subsection (3) omit paragraph (a),
  3. (c) in subsection (4)(a) omit "(a) or", and
  4. (d) in subsection (5)(a) omit "either of" and for "subsection (3)(a) or (b)" substitute "subsection (3)(b)".'.

No. 177, in page 275, line 31, leave out paragraph 44 and insert— '44 In section 76 (excess assets on winding up)—

  1. (a) in subsection (3), omit paragraph (c) (but not the word "and" immediately following it),
  2. (b) omit subsection (5), and
  3. (c) in subsection (6) for "sections 3 and 10 apply" substitute "section 10 applies".'.

No. 178, in page 275, line 33, leave out paragraph 45 and insert— '45 In section 77 (excess assets remaining after winding up: power to distribute)—

  1. (a) omit subsections (2) and (3),
  2. (b) in subsection (4)—
    1. (i) for the opening words substitute "Where this section applies—", and
    2. (ii) in paragraph (a) for "those assets" substitute "the undistributed assets".
  3. (c) in subsection (5) for "sections 3 and 10 apply" substitute "section 10 applies".'

No. 168, in page 275, line 39, leave out from 'schemes' to end of line 43 and insert ')—

  1. (a) in subsection (1)(a)—
    1. (i) for "sections 56 to 60" substitute "Part 3 of the Pensions Act 2004", and
    2. (ii) for "those sections" substitute "that Part", and
  2. (b) in subsection (2) omit "insolvency".'.

No. 169, in page 276, leave out lines 3 and 4 and insert— '(1) Section 124 (interpretation of Part 1) is amended as follows.'.

No. 170, in page 276, line 4, at end insert— '() In subsection (1), in the definition of "employer", for "persons in the description or category of employment" substitute "people with service in employments of the description".'.

No. 171, in page 276, line 4, at end insert— ' () In that subsection, in the definition of "transfer credits", for the words following "by reference to" substitute "—

  1. (a) a transfer to the scheme of, or transfer payment to the trustees or managers of the scheme in respect of, any of his rights (which may include conditional rights and transfer credits allowed) under another scheme, other than pension credit rights, or
  2. (b) a cash transfer sum paid under Chapter 5 of Part 4 of the Pension Schemes Act 1993 (c.48) (early leavers) in respect of him, to the trustees or managers of the scheme.".'.

No. 172, in page 276, line 4, at end insert— '() In subsection (3A) after "(3E)" insert "and to sections 25, 122 and 137 of the Pensions Act 2004" '—[Malcolm Wicks.]

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