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Postal Services Bill [HL]

I have tabled Amendments 46, 49 and 71. I prepared a paper at length on Sunday that referred to Amendment 50, but that comes later: it seems to have jumped from the earlier group. Amendment 46 suggests that the subsection should start with, ""Subject to subsections (7A) to (9)"." Amendment 49 suggests the replacing of subsection (7) with subsection (7A). It is necessary to spell these things out, because it is nice to get them on the record. I know that they will appear because of the system, but I am determined to get them out now. Proposed new subsection (7A) states: ""If an order is made under section 20(1)(c), the fund established shall be established under trust and vested in a trustee for the new public sector scheme; and the scheme and trustee shall comply with the following sections of the Pensions Act 1955 (c. 26)—""(a) section 34 (power of investment and delegation),""(b) section 35 (investment principles)""(c) section 36 (choosing investments)""(d) section 36A (restriction on borrowing by trustees)""(e) section 39 (exercise of powers by member trustees)""(f) section 41 (provision of documents to members)""(g) section 47 (appointment of professional advisers)""(h) section 49 (other responsibilities of trustees, employers etc), and""(i) section 50 (requirement for dispute resolution arrangements).""(8) For the purposes of the provisions referred to in subsection (7A), the Secretary of State shall be deemed to be the employer.""(9) If an order is made under section 20(1)(a) or (b)—""(a) the new public scheme shall be administered by a company limited by guarantee,""(b) at least one third of the directors of the company shall be nominated by qualifying members of the RMPP in accordance with requirements prescribed in the order, and""(c) the company shall have power to administer the scheme, to appoint advisers and to delegate functions exercisable by it in accordance with requirements prescribed in the order"." This amendment is comprehensive. By specifying the sections of the Pensions Act, it avoids any doubt and ensures that the Bill is in line with the requirements of the 1995 Act. Amendment 71 would delete paragraph (a). I am trying to be careful about saying things that might hurt people. Members with qualifying accrued rights that are transferred to the new public scheme will have no direct relationship with the Secretary of State: their rights will be enforceable against the new public scheme. The new public scheme might be funded or unfunded. There is nothing in the Bill to say that it could not be wound up. Amendment 50 makes explicit what seems to be assumed. Amendment 71 seeks to delete paragraph (a). I hope that the Minister has understood that: I took advice on the amendment and I have read out what I was given. I beg to move.