leave out paragraphs (b) and (c)
Bill texts 6
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Amendments 41
Committee stage — Lords 20
leave out subsection (2)
at end insert— The assessment under subsection (2)(b) of whether a scheme has sufficient financial resources may not take account of resources related to benefits other than money purchase benefits.”
leave out “negative” and insert “affirmative”
leave out paragraph (b)
leave out line 39
at end insert— Regulations under this section may require the Pensions Regulator to review from time to time whether the persons mentioned in subsections (2)(a) to (h) and (3)(a) and (b) remain fit and proper persons to act in relation to the relevant scheme in the capacity mentioned.”
at end insert— the scheme’s policies relating to systems and processes requirements as set out in regulations under section 11;
leave out “negative” and insert “affirmative”
at end insert “under all of the provisions of Part 1”
leave out “constituted as a seperate legal entity” and insert “approved by the Pensions Regulator”
at end insert— the scheme’s member engagement strategy.”
Insert the following new Clause— “Scheme funding: triggering events
Insert the following new Clause— “Decision on application: regulator’s financial resources
leave out first “the” and insert “any”
leave out paragraph (d)
at end insert “and is not an AVC only scheme,”
at end insert— is not a relevant centralised scheme, and
at end insert— ““AVC only scheme” means an occupational pension scheme which provides no money purchase benefits other than benefits which are attributable to additional voluntary contributions;”
at end insert— ““relevant centralised scheme” has the same meaning as in regulation 1(2) of the Occupational Pension Schemes (Member-nominated Trustees and Directors) Regulations 2006;”
Report stage — Lords 20
at end insert— The first regulations that are made under subsection (4) are subject to affirmative resolution procedure.”
leave out “Regulations under this section” and insert “Any subsequent regulations under subsection (4), and regulations under subsections (2) and (3),”
at end insert— The first regulations that are made under this section are subject to affirmative resolution procedure.”
at beginning insert “Any subsequent”
at end insert— The first regulations that are made under this section are subject to affirmative resolution procedure.”
at beginning insert “Any subsequent”
at end insert— The first regulations that are made under this section are subject to affirmative resolution procedure.”
at beginning insert “Any subsequent”
at end insert— The first regulations that are made under this section are subject to affirmative resolution procedure.”
at beginning insert “Any subsequent”
at end insert— The first regulations that are made under subsection (3) are subject to affirmative resolution procedure.”
leave out “Regulations under this section” and insert “Any subsequent regulations under subsection (3), and regulations under subsection (2),”
at end insert— the scheme’s member engagement strategy.”
at end insert— for the purpose of giving effect to continuity option 1 when the trustees have not been able to identify a Master Trust scheme to which members’ accrued rights and benefits may be transferred;
Insert the following new Clause— “Scheme funder of last resort
leave out “as a separate legal entity” and insert “and carry out activities in a manner which enables its financial position and the financial arrangements between it and a Master Trust to be transparent to the Regulator”
leave out subsection (3)
at end insert “or for a new scheme funder to be put in place in relation to the Master Trust in accordance with regulations under section 24.”
leave out “only”
at end insert “and are disclosed to the Regulator for the purposes of assessing the scheme funder’s financial sustainability under section 8”
3rd reading — Lords 1
at end insert— The regulations may include provision—