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Lord Lucas moved Amendments Nos. 75 to 79:


Page 52, line 15, at end insert:

("( ) a person will do any act which constitutes a misuse or misappropriation of the assets of an occupational pension scheme,").


Page 52, line 16, leave out from ("Act") to end of line 18 and insert ("or the Pension Schemes Act 1993, or any enactment in force in Northern Ireland corresponding to either of them").
Page 52, line 20, leave out ("or (as the case may be)") and insert ("whether the act will be done, or").

7 Feb 1995 : Column 206


Page 52, line 23, leave out ("provision or enactment") and insert ("provisions").
Page 52, line 42, leave out from first ("Act") to ("until") in line 43 and insert ("or the Pension Schemes Act 1993, or any enactment in force in Northern Ireland corresponding to either of them").

The noble Lord said: I have already spoken to these amendments. I beg to move.

On Question, amendments agreed to.

[Amendment No. 80 not moved.]

Clause 90, as amended, agreed to.

Clauses 91 and 92 agreed to.

Clause 93 [Publishing reports]:

[Amendments Nos. 81 and 82 not moved.]

Clause 93 agreed to.

Clause 94 [Restricted information]:

Lord Lucas moved Amendment No. 83:


Page 54, line 13, leave out ("under or for the purposes of") and insert ("for the purposes of their functions under").

The noble Lord said: In moving this amendment I shall speak also to Amendment No. 86. These amendments are technical and are intended to add clarity by using words which appear elsewhere in the Bill. The clause places strict limits on the disclosure of information by the authority, and on any other person who may receive information from the authority, where the information is restricted information.

Subsection (2) defines "restricted information" for the purposes of these provisions as information that relates to the business or other affairs of any person. It does not include information already being made public from other sources, or information that is presented in summary form so that information relating to an individual cannot be ascertained from it.

Amendment No. 83 changes the wording of the definition of "restricted information" in subsection (2). The amendment will add clarity by using a form of wording that is found elsewhere in the Bill. It refers to,


    "information ... for the purposes of their functions under this Act",

rather than,


    "information obtained by the Authority under or for the purposes of this Act".

Subsection (3) provides that it is an offence for any person to disclose information in breach of the clause and that the offence attracts a maximum penalty, on summary conviction, of imprisonment for a term not exceeding six months or a fine not exceeding the statutory maximum, or both. On indictment the maximum penalty is two years' imprisonment, or an unlimited fine, or both. The effect of Amendment No. 86 is to present the penalty for a breach of duty imposed by Clause 94 in the standard way. I beg to move.

On Question, amendment agreed to.

[Amendments Nos. 84 and 85 not moved.]

7 Feb 1995 : Column 207

Lord Lucas moved Amendment No. 86:


Page 54, leave out lines 24 to 26 and insert:
("(a) on summary conviction, to a fine not exceeding the statutory maximum, and
(b) on conviction on indictment, to a fine or imprisonment or both.").

On Question, amendment agreed to.

Clause 94, as amended, agreed to.

Clause 95 [Information supplied to the Authority by corresponding overseas authorities]:

[Amendment No. 87 not moved.]

Lord Lucas moved Amendment No. 88:


Page 54, line 33, leave out ("and 97") and insert ("to 98").

On Question, amendment agreed to.

Clause 95, as amended, agreed to.

Clause 96 agreed to.

Clause 97 [Disclosure for facilitating discharge of functions by other supervisory authorities]:

Lord Lucas moved Amendments Nos. 89 to 99:


Page 55, column 2, line 19, leave out ("Part XIII of").
Page 55, column 2, line 21, after ("1986") insert ("Part III of the Companies Act 1989").
Page 55, line 23, at end insert:
(" The Treasury. Functions under the Financial Services Act 1986.")

Page 55, column 2, line 25, at end insert ("or any other functions").
Page 55, line 35, at end insert:
("The Deposit Protection Board. Functions under the Banking Act 1987.
The Investor Protection Board. Functions under the Building Societies Act 1986.").

Page 55, column 2, line 39, leave out from ("1986") to end of line 41.
Page 55, column 2, line 52, after ("1985") insert ("or section 94 or 177 of the Financial Services Act 1986").

7 Feb 1995 : Column 208


Page 55, leave out lines 53 to 55 and insert:
("A person authorised to exercise powers under section 43A or 44 of the Insurance Companies Act 1982, section 447 of the Companies Act 1985, section 106 of the Financial Services Act 1986, Article 440 of the Companies (Northern Ireland) Order 1986, or section 84 of the Companies Act 1989. Functions under those sections or that Article.")

Page 56, leave out lines 9 and 10.
Page 56, column 2, line 16, leave out ("or Part XII of").
Page 56, column 2, line 18, at end insert ("or Part II of the Companies (No. 2) (Northern Ireland) Order 1990").

On Question, amendments agreed to.

[Amendments Nos. 100 and 101 not moved.]

Clause 97, as amended, agreed to.

Clause 98 [Other permitted disclosures]:

Lord Lucas moved Amendment No. 102:


Page 56, line 43, after ("of") insert ("Health and").

On Question, amendment agreed to.

[Amendment No. 103 not moved.]

Clause 98, as amended, agreed to.

Clause 99 [Disclosure of information by the Inland Revenue]:

[Amendment No. 104 not moved.]

Clause 99 agreed to.

Lord Mackay of Ardbrecknish: I beg to move that the House do now resume.

Moved accordingly, and, on Question, Motion agreed to.

House resumed.

        House adjourned at twelve minutes past ten o'clock.


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