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Proceeding contribution from Lord Lucas (Conservative) in the House of Lords on Wednesday, 16 July 2008. It occurred during Committee of the Whole House (HL) and Debate on bill on Pensions Bill.

Pensions Bill

Again, I am grateful for that answer. It seems that these sorts of transactions will have to go for clearance. When you swap a business for cash, you are getting into the situation that the noble Lord, Lord Oakeshott, described in relation to buy-out schemes. That involves a substantial reduction in security, and therefore has to be washed through the Pensions Regulator. That is a sustainable position if it is understood. I beg leave to withdraw the amendment. Amendment No. 130FE, as an amendment to Amendment No. 130EW, by leave, withdrawn. [Amendment No. 130FF, as an amendment to Amendment No. 130EW, not moved.]

Secondary information

Type
Proceeding contribution
Reference
703 c1286 
Session
2007-08
Chamber / Committee
House of Lords chamber
Subjects
Compensation Company law Companies Directors Liability Insolvency Workplace pensions Pensions Pension Protection Fund Regulation Pensions Regulator
Legislation
Pensions Bill 2007-08
Link
View this Proceeding contribution on www.publications.parliament.uk