Clause 107 - Restrictions on winding up of schemes

Pensions Bill – in a Public Bill Committee at 3:45 pm on 25th March 2004.

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Amendments made: No. 378, in

clause 107, page 66, line 20, leave out from 'scheme' to 'an' in line 21 and insert 'in pursuance of'.

No. 379, in

clause 107, page 66, line 25, leave out subsection (4) and insert—

'(4) During the assessment period—

(a) except in prescribed circumstances and subject to prescribed conditions, no transfers of, or transfer payments in respect of, any member's rights under the scheme are to be made from the scheme, and

(b) no other steps may be taken to discharge any liability of the scheme to or in respect of a member of the scheme in respect of pensions or other benefits.

This subsection applies whether or not the scheme was being wound up immediately before the assessment period or began winding up by virtue of subsection (3).'.

No. 446, in

clause 107, page 66, line 37, leave out subsection (8).—[Mr. Pond.]

Clause 107, as amended, ordered to stand part of the Bill.