Clause 9 - Functions exercisable by the
Pensions Bill
3:30 pm
Mr Chris Pond (Parliamentary Under-Secretary, Department for Work and Pensions; Gravesham, Labour)
I think that the hon. Gentleman has misunderstood. I said that the purpose of the non-executive committee is to ensure that the regulator remains efficient and accountable. I think that that is his objective, too. I also said that giving the non-executive committee the responsibility to monitor the costs of the legislation once it is in force would not be a sensible use of its time given the other important roles and tasks that it has to fulfil. That is why I hope that when we discuss clause 9 he will feel reassured; it will become clear that the objectives that he is properly pursuing—that the resources of the regulator are appropriately used, properly targeted, and employed in an efficient, transparent and accountable way—will be fulfilled by the non-executive committee when we look at its range of functions.