Part of Pensions Bill – in a Public Bill Committee at 1:30 pm on 21 February 2008.
Personal account sharing on divorce
‘(1) Any sum may be transferred from one personal account into another personal account when—
(a) a divorce or dissolution of a civil partnership leads to a court order or agreement by mutual consent splitting the assets of the parties concerned;
(b) the court order or agreement by mutual consent instructs that a proportion of the value of the personal account of the transferor should be made the property of the transferee; and
(c) both the transferor and the transferee hold a personal account.
(2) In this section “the transferor” and “the transferee” shall be defined as in section 83 of this Act.’.—[Andrew Selous.]
A parliamentary bill is divided into sections called clauses.
Printed in the margin next to each clause is a brief explanatory `side-note' giving details of what the effect of the clause will be.
During the committee stage of a bill, MPs examine these clauses in detail and may introduce new clauses of their own or table amendments to the existing clauses.
When a bill becomes an Act of Parliament, clauses become known as sections.
