Part of the debate – in the House of Lords at 3:45 pm on 27 October 2008.
moved Amendment No. 69A:
After Clause 98, insert the following new Clause—
"Suspension of annuitisation order
(1) The Secretary of State may by order suspend any statutory provision or rule of law requiring a pension to be taken in the form of an annuity.
(2) The Secretary of State may by order renew an order made under subsection (1).
(3) The period for which a suspension order, made under subsection (1) or (2), has effect must be stated in the order and may not be less than 6 months or more than 2 years.
(4) Any order made under subsection (1) or (2) does not have effect until a draft has been laid before, and approved by a resolution of each House of Parliament."