Proceeds of Crime Bill – in a Public Bill Committee am 4:15 pm ar 10 Ionawr 2002.
'(1) This section applies where recoverable property to which proceedings under this Chapter relate includes rights under a pension scheme.
(2) A recovery order made by virtue of section 276—
(a) may not provide for the rights to be vested in the trustee for civil recovery, but
(b) may include provision imposing the following requirement, if the trustees or managers of the scheme are parties to the agreement by virtue of which the order is made.
(3) The requirement is that the trustees or managers of the pension scheme—
(a) make a payment in accordance with the agreement, and
(b) give effect to any other provision made by virtue of this section in respect of the scheme.
(4) The trustees or managers of the pension scheme have power to enter into any agreement to which a recovery order made by virtue of section 276 may give effect.
(5) The following provisions apply in respect of a recovery order made by virtue of section 276, so far as it includes the requirement mentioned in subsection (3).
(6) The order overrides the provisions of the pension scheme to the extent that they conflict with the requirement.
(7) The order may provide for the recovery by the trustees or managers of the scheme (whether by deduction from any amount which they are required to pay in pursuance of the agreement or otherwise) of costs incurred by them in—
(a) complying with the order, or
(b) providing information, before the order was made, to the enforcement authority, interim receiver or interim administrator.
(8) Sections 273(6) and 274 (read with section 275) apply as if the requirement were included in an order made by virtue of section 273(2).
(9) Section 275(3) to (6) has effect for the purposes of this section.'.—[Mr. Bob Ainsworth.]
Brought up, read the First and Second time, and added to the Bill.