Schedule 5 - The Board of the Pension Protection Fund

Pensions Bill – in a Public Bill Committee at 4:15 pm on 23rd March 2004.

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Amendments made: No. 399, in

schedule 5, page 187, line 2, leave out 'discharged' and insert 'exercised'.

No. 400, in

schedule 5, page 188, line 21, leave out 'such of the Board's' and insert

', on behalf of the Board, such of its'.

No. 401, in

schedule 5, page 188, line 25, at end insert—

'17A (1) The Board may make arrangements for any of its functions mentioned in subsection (2) to be exercised, in accordance with those arrangements, by a person on behalf of the Board.

(2) The functions are those conferred by or by virtue of—

(a) the pension compensation provisions (see section 124);

(b) section 125 (adjustments to be made where Board assumes responsibility for a scheme);

(c) section 127 (duty to notify Inland Revenue in relation to guaranteed minimum pensions);

(d) section 128 (duty to pay scheme benefits unpaid at assessment date);

(e) sections 131 and 132 (discharge of liabilities in respect of compensation or money purchase benefits);

(f) section 153 (notices requiring provision of information);

(g) section 165(1)(a) (provision of information to members of schemes etc);

(h) section 85 (supplementary powers), so far as that section relates to any function conferred by or by virtue of any provision mentioned in paragraphs (a) to (g).

(3) Where arrangements are made under this paragraph for any functions of the Board to be exercised by another person on its behalf—

(a) section 157(1)(b) (offence of providing false or misleading information to the Board) and section 158 (use of information) apply in relation to that person and any functions of the Board exercised by him as they apply in relation to the Board and its functions;

(b) subject to paragraph (c), sections 159 to 164 and 165(2) to (6) (disclosure of information) apply in relation to that person and any information obtained by him in the exercise of the Board's function as they apply in relation to the Board and information obtained by it in the exercise of its functions;

(c) nothing in paragraph (b) authorises any person to determine on behalf of the Board under section 163(1) whether the disclosure of any restricted information is desirable or expedient in the interests of members of occupational pension schemes or in the public interest.

(4) Where the Board makes arrangements under sub-paragraph (1) for any of its functions to be exercised by a person on its behalf, those arrangements may also provide for that person to exercise on behalf of the Board—

(a) any function, by virtue of section 168(1)(a), to give a review decision in respect of any reviewable matter arising from the exercise of that function;

(b) in relation to any function exercisable by virtue of paragraph (a) above, any other function under regulations under section 168(1) in connection with the giving of a review decision;

(c) any function conferred by section 85 (supplementary powers), so far as that section relates to any function mentioned in paragraph (a) or (b).

(5) In sub-paragraph (4) ''review decision'' has the meaning given by section 168(1).'.

No. 402, in

schedule 5, page 191, line 22, at end insert

'or any provision in force in Northern Ireland corresponding to either of those provisions'.—[Malcolm Wicks.]

Schedule 5, as amended, agreed to.