Amendment text
leave out paragraphs (b) and (c)
Proposed amendments
41 amendments across 13 provisions
Clause 1 6
Amendment text
leave out subsection (2)
Amendment text
at end insert “and is not an AVC only scheme,”
Amendment text
at end insert—
is not a relevant centralised scheme, and
is not a relevant centralised scheme, and
Amendment text
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;”
““AVC only scheme” means an occupational pension scheme which provides no money purchase benefits other than benefits which are attributable to additional voluntary contributions;”
Amendment text
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;”
““relevant centralised scheme” has the same meaning as in regulation 1(2) of the Occupational Pension Schemes (Member-nominated Trustees and Directors) Regulations 2006;”
Clause 3 1
Amendment text
at end insert “under all of the provisions of Part 1”
Clause 4 5
Amendment text
at end insert—
the scheme’s policies relating to systems and processes requirements as set out in regulations under section 11;
the scheme’s policies relating to systems and processes requirements as set out in regulations under section 11;
Amendment text
at end insert—
the scheme’s member engagement strategy.”
the scheme’s member engagement strategy.”
Amendment text
leave out first “the” and insert “any”
Amendment text
leave out paragraph (d)
Amendment text
at end insert—
the scheme’s member engagement strategy.”
the scheme’s member engagement strategy.”
Clause 5 1
Amendment text
Insert the following new Clause—
“Decision on application: regulator’s financial resources
“Decision on application: regulator’s financial resources
Only the heading is published via the Bills API — the full text of this new clause/schedule is set out in the marshalled Amendment Paper.
Clause 7 5
Amendment text
leave out line 39
Amendment text
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.”
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.”
Amendment text
leave out “negative” and insert “affirmative”
Amendment text
at end insert—
The first regulations that are made under subsection (4) are subject to affirmative resolution procedure.”
The first regulations that are made under subsection (4) are subject to affirmative resolution procedure.”
Amendment text
leave out “Regulations under this section” and insert “Any subsequent regulations under subsection (4), and regulations under subsections (2) and (3),”
Clause 8 6
Amendment text
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.”
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.”
Amendment text
leave out “negative” and insert “affirmative”
Amendment text
Insert the following new Clause—
“Scheme funding: triggering events
“Scheme funding: triggering events
Only the heading is published via the Bills API — the full text of this new clause/schedule is set out in the marshalled Amendment Paper.
Amendment text
at end insert—
The first regulations that are made under this section are subject to affirmative resolution procedure.”
The first regulations that are made under this section are subject to affirmative resolution procedure.”
Amendment text
at beginning insert “Any subsequent”
Amendment text
Insert the following new Clause—
“Scheme funder of last resort
“Scheme funder of last resort
Only the heading is published via the Bills API — the full text of this new clause/schedule is set out in the marshalled Amendment Paper.
Clause 9 2
Amendment text
at end insert—
The first regulations that are made under this section are subject to affirmative resolution procedure.”
The first regulations that are made under this section are subject to affirmative resolution procedure.”
Amendment text
at beginning insert “Any subsequent”
Clause 10 6
Amendment text
leave out paragraph (b)
Amendment text
leave out “constituted as a seperate legal entity” and insert “approved by the Pensions Regulator”
Amendment text
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”
Amendment text
leave out subsection (3)
Amendment text
leave out “only”
Amendment text
at end insert “and are disclosed to the Regulator for the purposes of assessing the scheme funder’s financial sustainability under section 8”
Clause 11 3
Amendment text
at end insert—
The first regulations that are made under this section are subject to affirmative resolution procedure.”
The first regulations that are made under this section are subject to affirmative resolution procedure.”
Amendment text
at beginning insert “Any subsequent”
Amendment text
at end insert—
The regulations may include provision—
The regulations may include provision—
The Bills API publishes only the tabling instruction here, not the inserted text itself — the full wording is set out in the marshalled Amendment Paper.
Clause 12 2
Amendment text
at end insert—
The first regulations that are made under this section are subject to affirmative resolution procedure.”
The first regulations that are made under this section are subject to affirmative resolution procedure.”
Amendment text
at beginning insert “Any subsequent”
Clause 16 2
Amendment text
at end insert—
The first regulations that are made under subsection (3) are subject to affirmative resolution procedure.”
The first regulations that are made under subsection (3) are subject to affirmative resolution procedure.”
Amendment text
leave out “Regulations under this section” and insert “Any subsequent regulations under subsection (3), and regulations under subsection (2),”
Clause 23 1
Amendment text
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.”
Clause 24 1
Amendment text
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;
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;