Part of Finance (No. 2) Bill – in a Public Bill Committee am 2:00 pm ar 9 Ionawr 2018.
With this it will be convenient to discuss the following:
Amendment 39, in schedule 3, page 65, line 28, at end insert
“or
(j) the pension scheme is a Master Trust scheme which has not complied with the relevant requirements of section 159E(2).”
This amendment paves the way for Amendment 41.
Amendment 40, in schedule 3, page 65, line 37, at end insert
“or
(i) the pension scheme is a Master Trust scheme which has not complied with the relevant requirements of section 159E(3).”
This amendment paves the way for Amendment 41.
Amendment 41, in schedule 3, page 65, line 37, at end insert—
‘(4A) After section 159D, insert—
(1) This section establishes additional registration requirements for Master Trust schemes.
(2) In respect of any such scheme, an investment strategy must be presented to the Commissioners prior to registration.
(3) In respect of any such scheme, and in respect of each year of registration, an annual report must be published on administration, fund management costs and transaction costs for each asset class and for active and passive asset management strategies.’
This amendment requires additional information to be provided on investment strategies and costs for Master Trust schemes prior to and in each year of registration with HMRC.
Amendment 42, in schedule 3, page 67, line 14, after “153(5)(i)”, insert “and (j)”.
This amendment is consequential on Amendment 41.
Amendment 43, in schedule 3, page 67, line 16, after “158(1)(h)”, insert “and (i)”
This amendment is consequential on Amendment 41.
Amendment 44, in schedule 3, page 67, line 17, at end insert—
‘(ba) sub-paragraph (4A);’.
This amendment is consequential on Amendment 41.
That schedule 3 be the Third schedule to the Bill.