Triggering event: duties of trustees

Part of Pension Schemes Bill [Lords] – in a Public Bill Committee at 3:15 pm on 7 February 2017.

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Photo of Craig Mackinlay Craig Mackinlay Conservative, South Thanet 3:15, 7 February 2017

I seek just one clarification from the Minister. Earlier today we agreed to Government amendment 3, which defined a scheme funder as

“a body corporate or a partnership that is a legal person”.

However, item 5 in the table of triggering events listed in clause 22(6) interprets a scheme funder slightly differently, as

“a person or body of a kind that meets requirements prescribed under…the Pensions Act 2004”.

I am concerned that we have agreed to an amendment that exempts individual persons, but there seems to be a slightly different interpretation of what the scheme funder is in the table of triggering events. It may just be an oversight, but some clarification would be helpful.