Previous Section Back to Table of Contents Lords Hansard Home Page


Lord Whitty moved Amendments Nos. 105 to 113:


Page 239, line 44, leave out ("employees, or persons who") and insert ("persons who are or").
Page 240, line 22, at end insert--
("( ) the alteration or winding up of any pension scheme or pension fund, whether in whole or in part;
( ) the variation of any trust;
( ) the transfer of the whole or any part of any pension fund or of any rights, obligations or liabilities under a pension scheme;
( ) the persons by whom any function under or relating to the scheme is to be exercisable;").
Page 240, line 31, at end insert--
("( ) the amendment of a pension scheme;").
Page 240, line 33, at end insert--
("( ) An order under subsection (1) above may amend--
(a) the trust deed of any pension scheme;
(b) the rules of any such scheme; or
(c) any other instrument relating to the constitution, management or operation of any such scheme;

1 Nov 1999 : Column 682


and any reference in this section to the amendment of a pension scheme includes a reference to the amendment of any such trust deed, rules or other instrument.").
Page 240, line 45, at end insert--
("( ) An order under this section may only be made after consultation with the trustees or managers, or the administrators, of any pension fund or pension scheme to which the order relates.").
Page 240, line 45, at end insert--
("( ) An order under this section may be made so as to have effect from a date prior to the making of the order.").
Page 241, line 3, at end insert--
("( ) Schedule (London Regional Transport pension etc schemes) to this Act (which makes provision in relation to schemes for the provision of pensions or other benefits for or in respect of employees etc of London Regional Transport and its subsidiaries) shall have effect.").
Page 241, line 4, at end insert--
(""instrument" includes an enactment or any subordinate legislation;").
Page 241, line 14, at end insert--
(""pension scheme" means an occupational pension scheme, as defined in section 1 of the Pension Schemes Act 1993;").

On Question, amendments agreed to.

Clause 403 [Transfer and pension instruments: common provisions]:

Lord Whitty moved Amendments Nos. 114 to 122:


Page 241, line 17, at end insert ("; and
(b) rights and liabilities under enactments.").
Page 241, line 22, at end insert--
("( ) No right to terminate or vary a contract or instrument shall operate or become exercisable, and no provision of a contract or relevant document, shall operate or become exercisable or be contravened by reason of any transfer by virtue of a transfer or pension instrument.").
Page 241, line 23, leave out subsection (3) and insert--
("(3) For purposes connected with any transfers made by virtue of a transfer or pension instrument (including the transfer of rights and liabilities under an enactment) a body or person to which anything is transferred by virtue of the instrument is to be treated as the same person in law as the body or person from which it is transferred, except as otherwise provided in the instrument.").
Page 241, line 36, leave out subsection (6).
Page 242, line 36, leave out subsections (13) and (14).
Page 242, line 44, after ("subsection") insert ("(2) or").
Page 242, line 44, after ("above") insert (", and
(b) of the trustees or managers, or administrators, of any pension scheme,").
Page 242, line 47, at end insert--
("( ) Where any person is entitled, in consequence of any transfer made by virtue of a transfer or pension instrument, to possession of a document relating in part to the title to, or to the management of, any land or other property in England and Wales--
(a) the instrument may contain provision for treating that person as having given another person an acknowledgment in writing of the right of that other person to the production of the document and to delivery of copies thereof; and
(b) section 64 of the Law of Property Act 1925 (production and safe custody of documents) shall have effect accordingly, and on the basis that the acknowledgment did not contain any such expression of contrary intention as is mentioned in that section.").

1 Nov 1999 : Column 683


Page 243, line 1, after ("section") insert--
(""relevant document" means--
(a) any enactment, other than an enactment contained in this Act;
(b) any subordinate legislation made otherwise than under this Act; or
(c) any deed or other instrument;").

On Question, amendments agreed to.

Lord Whitty moved Amendments Nos. 123 and 124:


After Clause 403, insert the following new clause--

MODIFICATION OF TRANSFER OR PENSION INSTRUMENTS

(" .--(1) If, at any time after a transfer or pension instrument has come into force, a Minister of the Crown considers it appropriate to do so, he may by order provide that the instrument shall for all purposes be deemed to have come into force with such modifications as may be specified in the order.
(2) An order under subsection (1) above may make such provision as could have been made by the transfer or pension instrument.
(3) An order under subsection (1) above may only be made after the requisite consultation.
(4) If, at any time after a scheme under section 400 above has come into force, a Minister of the Crown considers it appropriate to do so, he may by directions require a body or person falling within subsection (2) of section 399 above to prepare modifications to the scheme of such a description as may be specified in the directions.
(5) Where a body or person is required to prepare any modifications under subsection (4) above, the body or person shall submit the modifications to the Minister for his approval before such date as he may direct.
(6) Where any modifications are submitted under subsection (5) above, the Minister may approve them with or without amendment.
(7) Approval under subsection (5) above shall only be given after the requisite consultation.
(8) An approval under subsection (5) above shall take effect on such date as the Minister may specify in giving the approval.
(9) Where any modifications are made and approved under the preceding provisions of this section, whether with or without amendment, the scheme shall for all purposes be deemed to have come into force with those modifications, subject to any such amendment.
(10) For the purposes of this section, "the requisite consultation"--
(a) if or to the extent that the transfer or pension instrument concerned makes provision by virtue of the pension powers of this Part, is consultation with the trustees or managers, or the administrators, of any pension scheme affected; and
(b) if or to the extent that the transfer or pension instrument concerned makes provision otherwise than by virtue of the pension powers of this Part, is consultation with any body which, or person who, the Minister considers may be affected.
(11) In this section--
"approval" means approval in writing;
"the pension powers of this Part" means--
(a) in the case of a scheme, section 400(6) above; and
(b) in the case of an order, section 402 above;
"transfer or pension instrument" has the same meaning as in section 403 above.").

1 Nov 1999 : Column 684


After Clause 403, insert the following new clause--
FOREIGN PROPERTY, RIGHTS OR LIABILITIES: PERFECTION OF VESTING

(" .--(1) This section applies in any case where a transfer or pension instrument provides for the transfer of any foreign property, rights or liabilities.
(2) It shall be the duty of the transferor and the transferee to take, as and when the transferee considers appropriate, all such steps as may be requisite to secure that the vesting in the transferee by virtue of the transfer or pension instrument of any foreign property, right or liability is effective under the relevant foreign law.
(3) Until the vesting in the transferee, by virtue of the transfer or pension instrument, of any foreign property, right or liability is effective under the relevant foreign law, it shall be the duty of the transferor to hold that property or right for the benefit of, or to discharge that liability on behalf of, the transferee.
(4) Nothing in subsections (2) and (3) above shall be taken as prejudicing the effect under the law of any part of the United Kingdom of the vesting in the transferee by virtue of a transfer or pension instrument of any foreign property, right or liability.
(5) The transferor shall have all such powers as may be requisite for the performance of his duty under this section, but it shall be the duty of the transferee to act on behalf of the transferor (so far as possible) in performing the duty imposed on the transferor by this section.
(6) References in this section to any foreign property, right or liability are references to any property, right or liability as respects which any issue arising in any proceedings would have been determined (in accordance with the rules of private international law) by reference to the law of a country or territory outside the United Kingdom.
(7) Duties imposed on the transferor or the transferee by this section shall be enforceable in the same way as if the duties were imposed by a contract between the transferor and the transferee.
(8) Any expenses incurred by the transferor under this section shall be met by the transferee.
(9) In this section "transfer or pension instrument" has the same meaning as in section 403 above").

On Question, amendments agreed to.


Next Section Back to Table of Contents Lords Hansard Home Page