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Pensions Bill

moved Amendment No. 22: 22: Clause 6, page 4, line 5, at end insert— ““( ) The first regulations under subsection (4)(b) shall not be made unless a draft of the statutory instrument containing them has been laid before, and approved by a resolution of, each House of Parliament.”” The noble Lord said: This is one occasion on which I have managed to pre-empt the Government, by accident rather than design, because with the amendment are grouped government Amendments Nos. 137 to 139. Also in the group are three other of our amendments, Amendments Nos. 36, 51 and 52. The Government have accepted many of the recommendations of the Deregulated Powers and Regulatory Reform Committee of your Lordships’ House. The intention of our Amendments Nos. 22, 36 and 52 has been fulfilled by the government amendments in the group. However, our Amendment No. 51 is not matched by a government amendment. There is, once again, a certain vagueness about Clause 12(2). It seems that the Government cannot make up their mind. Your Lordships’ Delegated Powers and Regulatory Reform Committee recommended in paragraph 19 of its report that either prescribed features should be more closely defined to the Government intention of dealing with schemes that fail to revalue accrued savings or that the power should come under affirmative approval. The Government response was: "““In their report the Committee signalled concerns over the regulation-making power at 15(2)(c) citing that the power conferred was too wide ranging and risked an average salary scheme to be removed from the definition of ‘qualifying scheme’ on any ground””." I emphasise ““any ground””. They go on: "““The Committee recommended that the delegation at Clause 15(2)(c) should be more closely confined to the purpose which the delegated powers memorandum states that it is being conferred. We are currently exploring with stakeholders, whether the power allowing the Secretary of State to exclude average salary schemes with prescribed features is required. Following these discussions we will either remove this power or table an amendment to make this power affirmative rather than negative””." I am extremely grateful to the Minister for inviting me to some of these stakeholder meetings, one or two of which I have been able to attend. The noble Baroness, Lady Hollis, and I went to one only last week but not, alas, on this subject. With whom is the department holding discussions and which option looks more likely? Does it expect to be ready by Report stage to bring back whatever amendment is considered appropriate? I beg to move.