moved, as an amendment to Amendment No. 78B, Amendment No. 78N: 78N: Before Schedule 9, line 106, leave out ““might detrimentally affect”” and insert ““was likely detrimentally to affect”” The noble Baroness said: My Lords, the amendment seeks to amend condition A in the defence section, the new Section 38B....

moved, as an amendment to Amendment No. 78B, Amendment No. 78N: 78N: Before Schedule 9, line 106, leave out ““might detrimentally affect”” and insert ““was likely detrimentally to affect”” The noble Baroness said: My Lords, the amendment seeks to amend condition A in the defence section, the new Section 38B....

My Lords, my noble friend’s amendment is very important. If the noble Lord has not yet read Black Swan by Nassim Nicholas Taleb, he will enjoy doing so, but the difference between ““might”” and ““is likely to”” is an example of the difference between the real world and the world...

My Lords, my noble friend’s amendment is very important. If the noble Lord has not yet read Black Swan by Nassim Nicholas Taleb, he will enjoy doing so, but the difference between ““might”” and ““is likely to”” is an example of the difference between the real world and the world...

My Lords, I add to the chorus by saying that I am delighted by what the Government have done—it is great progress. Although I have tabled many detailed amendments, they focus on one matter, which is the code and how secure people can be in the belief that the matters...

My Lords, I add to the chorus by saying that I am delighted by what the Government have done—it is great progress. Although I have tabled many detailed amendments, they focus on one matter, which is the code and how secure people can be in the belief that the matters...

My Lords, the noble Baroness seeks clarification that the regulator will consider the guidance available to a party at the time of an act if considering a contribution notice on grounds of material detriment in respect of that act. I agree that the parties should have certainty that changes to...

My Lords, the noble Baroness seeks clarification that the regulator will consider the guidance available to a party at the time of an act if considering a contribution notice on grounds of material detriment in respect of that act. I agree that the parties should have certainty that changes to...

My Lords, in moving Amendment No. 78C, I shall speak also to the other amendments in the group. This amendment is to raise the first question on the material detriment section: why should it be the opinion of the regulator that determines what is material detriment, rather than the facts?...

My Lords, in moving Amendment No. 78C, I shall speak also to the other amendments in the group. This amendment is to raise the first question on the material detriment section: why should it be the opinion of the regulator that determines what is material detriment, rather than the facts?...

moved, as an amendment to Amendment No. 78B, Amendment No. 78C: 78C: Before Schedule 9, line 9, leave out from ““etc.),”” to end of line 11 and insert ““at the beginning insert ““the material detriment test is met in relation to the act or failure (see section 38A) or””.””

moved, as an amendment to Amendment No. 78B, Amendment No. 78C: 78C: Before Schedule 9, line 9, leave out from ““etc.),”” to end of line 11 and insert ““at the beginning insert ““the material detriment test is met in relation to the act or failure (see section 38A) or””.””

moved Amendment No. 78A: 78A: Before Clause 124, insert the following new Clause— ““Amendments of provisions of Pensions Act 2004 relating to contribution notices or financial support directions Schedule (Contribution notices and financial support directions under Pensions Act 2004) (which amends the Pensions Act 2004 in relation to contribution notices...

moved Amendment No. 78A: 78A: Before Clause 124, insert the following new Clause— ““Amendments of provisions of Pensions Act 2004 relating to contribution notices or financial support directions Schedule (Contribution notices and financial support directions under Pensions Act 2004) (which amends the Pensions Act 2004 in relation to contribution notices...

My Lords, the amendment of the noble Lord, Lord Oakeshott, responds to a keenly felt issue in our current economic situation, and gives me the opportunity to discuss the important issues he raised in relation to the PPF and the FSA. It is important that we ensure clarity regarding regulatory...

My Lords, the amendment of the noble Lord, Lord Oakeshott, responds to a keenly felt issue in our current economic situation, and gives me the opportunity to discuss the important issues he raised in relation to the PPF and the FSA. It is important that we ensure clarity regarding regulatory...

My Lords, I would be surprised if most of the points of the noble Lord, Lord Oakeshott, were not covered by Section 146(1) of the 2004 Act: "““Regulations may provide that where the Board is satisfied that an eligible scheme was not such a scheme throughout such period as may...

My Lords, I would be surprised if most of the points of the noble Lord, Lord Oakeshott, were not covered by Section 146(1) of the 2004 Act: "““Regulations may provide that where the Board is satisfied that an eligible scheme was not such a scheme throughout such period as may...

My Lords, I will respond briefly to those comments. Amendments are about to be moved to the amendment, but I should like to say that I am grateful for the support and encouragement from all three noble Lords who have spoken. I add my thanks to the staff of the...

My Lords, I will respond briefly to those comments. Amendments are about to be moved to the amendment, but I should like to say that I am grateful for the support and encouragement from all three noble Lords who have spoken. I add my thanks to the staff of the...

moved, as an amendment to Amendment No. 78B, Amendment No. 78P: 78P: Before Schedule 9, line 110, leave out ““all reasonable steps to”” and insert ““steps which would reasonably”” The noble Baroness said: My Lords, the amendment focuses on condition B. Condition B kicks in if, as a result of...

moved, as an amendment to Amendment No. 78B, Amendment No. 78P: 78P: Before Schedule 9, line 110, leave out ““all reasonable steps to”” and insert ““steps which would reasonably”” The noble Baroness said: My Lords, the amendment focuses on condition B. Condition B kicks in if, as a result of...

My Lords, my brain is slowing up at this hour. I think that what the Minister said is a good answer to the point that I put to him, but I reserve the right to read it in Hansard and think about it further. I beg leave to withdraw the...

My Lords, my brain is slowing up at this hour. I think that what the Minister said is a good answer to the point that I put to him, but I reserve the right to read it in Hansard and think about it further. I beg leave to withdraw the...

My Lords, as explained, the purpose of the amendment is to provide that somebody other than the person raising the defence might be the one to mitigate the detriment. However, this is unnecessary. The legislation does not require the person raising the defence to mitigate the detriment; rather, it requires...

My Lords, as explained, the purpose of the amendment is to provide that somebody other than the person raising the defence might be the one to mitigate the detriment. However, this is unnecessary. The legislation does not require the person raising the defence to mitigate the detriment; rather, it requires...

My Lords, I am grateful for the support from my noble friend Lord Lucas on the difference between ““might”” and ““likely””. We disagree with the noble Lord, Lord Oakeshott; in the business world, it is normal to proceed on the basis of what is likely to happen and not of...

My Lords, I am grateful for the support from my noble friend Lord Lucas on the difference between ““might”” and ““likely””. We disagree with the noble Lord, Lord Oakeshott; in the business world, it is normal to proceed on the basis of what is likely to happen and not of...

moved, as an amendment to Amendment No. 78B, Amendment No. 78NA: 78NA: Before Schedule 9, line 110, after ““P”” insert ““or any other persons”” The noble Baroness said: My Lords, this would amend condition B of the material detriment defence. Under condition B, if there is a potential detrimental effect,...

moved, as an amendment to Amendment No. 78B, Amendment No. 78NA: 78NA: Before Schedule 9, line 110, after ““P”” insert ““or any other persons”” The noble Baroness said: My Lords, this would amend condition B of the material detriment defence. Under condition B, if there is a potential detrimental effect,...

My Lords, I think I agree with the noble Lord.

My Lords, I think I agree with the noble Lord.

My Lords, as we are going to rise shortly, perhaps I may write to the noble Lord and the noble Baroness. The position is broader than the noble Lord has outlined and if we get clarity in writing it would be beneficial all round.

My Lords, as we are going to rise shortly, perhaps I may write to the noble Lord and the noble Baroness. The position is broader than the noble Lord has outlined and if we get clarity in writing it would be beneficial all round.

moved, as an amendment to Amendment No. 78B, Amendment No. 78G: 78G: Before Schedule 9, leave out line 54 The noble Lord said: I shall also speak to Amendments Nos. 78H and 78AA. In each case I have two questions. First, what does the Minister envisage doing with these powers?...

moved, as an amendment to Amendment No. 78B, Amendment No. 78G: 78G: Before Schedule 9, leave out line 54 The noble Lord said: I shall also speak to Amendments Nos. 78H and 78AA. In each case I have two questions. First, what does the Minister envisage doing with these powers?...

I thank the Minister for his response, and am happy to proceed on the basis that he has suggested. I hope that between now and Report we can sort this out, and if necessary retable it for a better statement to be made at the Dispatch Box. I beg leave...

I thank the Minister for his response, and am happy to proceed on the basis that he has suggested. I hope that between now and Report we can sort this out, and if necessary retable it for a better statement to be made at the Dispatch Box. I beg leave...

My Lords, I think that that comes within the general rubric of, ““Let’s hope it goes well””. I just leave with the Minister the thought that the power in line 54 seems to me to be entirely contained within the power in line 89. If that is not so, I...

My Lords, I think that that comes within the general rubric of, ““Let’s hope it goes well””. I just leave with the Minister the thought that the power in line 54 seems to me to be entirely contained within the power in line 89. If that is not so, I...