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Pensions Bill

moved Amendment No. 45: 45: Clause 14, page 17, line 29, at end insert— ““24GA Effect of amendment to the scheme The amendment of a scheme in respect of those earners in relation to whom the conditions specified in section 24B are satisfied shall extinguish the earner’s accrued rights to guaranteed minimum pensions under that scheme.”” The noble Baroness said: The Committee will be relieved to know that this is the last of the amendments that have been suggested to us by the Law Society of Scotland, also in relation to Clause 14. Amendment No. 45 inserts a new Section 24GA into the Pensions Act 1993. The new section says that when a scheme has been amended under these new provisions it has the effect of extinguishing the owner’s rights to the guaranteed minimum pension under that scheme. Of course that is what Clause 14 is all about, but it did not appear to say so, so we have tabled the amendment for the avoidance of doubt. I hope the Minister will not simply say to me that it is all implicit. I beg to move.