That the draft orders laid before the House on 11 January be approved. Relevant documents: 6th report from the Joint Committee on Statutory Instruments, considered in Grand Committee on 9 February. Motion agreed.

That the draft orders laid before the House on 11 January be approved. Relevant documents: 6th report from the Joint Committee on Statutory Instruments, considered in Grand Committee on 9 February. Motion agreed.

Draft Occupational Pension Schemes (Levy Ceiling) Order 2010. Draft Pension Protection Fund (Pension Compensation Cap) Order 2010. Lords motion to approve. Agreed to on question (formal).

Draft Occupational Pension Schemes (Levy Ceiling) Order 2010. Draft Pension Protection Fund (Pension Compensation Cap) Order 2010. Lords motion to approve. Agreed to on question (formal).

Draft Occupational Pension Schemes (Levy Ceiling) Order 2010, draft Pension Protection Fund (Pension Compensation Cap) Order 2010; draft Pension Protection Fund (Pension Compensation Cap) Order 2010; draft Regulation of Investigatory Powers (Covert Surveillance and Property Interference: Code of Practice) Order 2010; draft Regulation of Investigatory Powers (Covert Human Intelligence Sources: Code of Practice) Order 2010, draft Regulation of Investigatory Powers (Extension of Authorisation Provisions: Legal Consultations) Order 2010. Motions to approve. Agreed to on question.

Draft Occupational Pension Schemes (Levy Ceiling) Order 2010, draft Pension Protection Fund (Pension Compensation Cap) Order 2010; draft Pension Protection Fund (Pension Compensation Cap) Order 2010; draft Regulation of Investigatory Powers (Covert Surveillance and Property Interference: Code of Practice) Order 2010; draft Regulation of Investigatory Powers (Covert Human Intelligence Sources:...

Draft Occupational Pension Schemes (Levy Ceiling) Order 2010; draft Pension Protection Fund (Pension Compensation Cap) Order 2010. Considered by Delegated Legislation Committee. Agreed to on question.

Draft Occupational Pension Schemes (Levy Ceiling) Order 2010; draft Pension Protection Fund (Pension Compensation Cap) Order 2010. Considered by Delegated Legislation Committee. Agreed to on question.

Letter dated 24/02/2010 from Lord McKenzie of Luton to Lord Oakeshott regarding the Occupational Pension Schemes (Levy Ceiling) Order 2010 and the Pension Protection Fund (Pension Compensation Cap) Order 2010. 3 p.

Letter dated 24/02/2010 from Lord McKenzie of Luton to Lord Oakeshott regarding the Occupational Pension Schemes (Levy Ceiling) Order 2010 and the Pension Protection Fund (Pension Compensation Cap) Order 2010. 3 p.

My Lords, I thank noble Lords for their contributions. I am not sure that I heard from either noble Lord who spoke whether they support the orders.

My Lords, I thank noble Lords for their contributions. I am not sure that I heard from either noble Lord who spoke whether they support the orders.

I would prefer to do that because they are quite technical points—certainly those relating to the total value of contingency assets and an update on pre-pack schemes. Around the whole issue of buyouts, buy-ins and the raft of arrangements that may be in place, the market has generally cooled during...

I would prefer to do that because they are quite technical points—certainly those relating to the total value of contingency assets and an update on pre-pack schemes. Around the whole issue of buyouts, buy-ins and the raft of arrangements that may be in place, the market has generally cooled during...

I am delighted to hear that. A number of quite technical questions were raised and I shall to try to deal with as many of them as I can. On some, I shall definitely have to follow up. The noble Lord, Lord Freud, talked about the mismanagement of the economy,...

I am delighted to hear that. A number of quite technical questions were raised and I shall to try to deal with as many of them as I can. On some, I shall definitely have to follow up. The noble Lord, Lord Freud, talked about the mismanagement of the economy,...

Yes, we do.

Yes, we do.

That the Grand Committee do report to the House that it has considered the Occupational Pension Schemes (Levy Ceiling) Order 2010.

That the Grand Committee do report to the House that it has considered the Occupational Pension Schemes (Levy Ceiling) Order 2010.

It is possibly still not crystal-clear to the Minister. Is it the whole year compared with the previous year, as opposed to a month? The percentage cannot have moved from 3.5 to 0.9 over those three months. Something is still not quite clear, I think.

It is possibly still not crystal-clear to the Minister. Is it the whole year compared with the previous year, as opposed to a month? The percentage cannot have moved from 3.5 to 0.9 over those three months. Something is still not quite clear, I think.

My Lords, I remind the noble Lord that we are straying somewhat from the orders. Pretty much every time that we have talked about regulation and its scope, his party has argued for less onerous regulation across the banking system and across a whole range of other areas. The noble...

My Lords, I remind the noble Lord that we are straying somewhat from the orders. Pretty much every time that we have talked about regulation and its scope, his party has argued for less onerous regulation across the banking system and across a whole range of other areas. The noble...

My Lords, before I explain these orders, noble Lords may find it helpful if I say a little about the work of the PPF in the year since we last debated these orders. As noble Lords are aware, the Pension Protection Fund protects members of defined-benefit occupational pension schemes and...

My Lords, before I explain these orders, noble Lords may find it helpful if I say a little about the work of the PPF in the year since we last debated these orders. As noble Lords are aware, the Pension Protection Fund protects members of defined-benefit occupational pension schemes and...

My Lords, this is an annual event. I think that that we last discussed these orders about 10 and a half months ago. I am not going to make a party-political broadcast but, as the noble Lord, Lord Freud, said, this is an appropriate opportunity to ask one or two...

My Lords, this is an annual event. I think that that we last discussed these orders about 10 and a half months ago. I am not going to make a party-political broadcast but, as the noble Lord, Lord Freud, said, this is an appropriate opportunity to ask one or two...

On several of those points, I should be quite happy to have a written answer, if that suits the Minister.

On several of those points, I should be quite happy to have a written answer, if that suits the Minister.

I am sorry; it is for a whole year period. I will write to the noble Lord specifically to confirm that, but that is why. The noble Lord asked about the PPF’s assessment, which was over 25 years but is now to be over 20 years. To be clear, the...

I am sorry; it is for a whole year period. I will write to the noble Lord specifically to confirm that, but that is why. The noble Lord asked about the PPF’s assessment, which was over 25 years but is now to be over 20 years. To be clear, the...

I cannot let that pass. The mismanagement encompasses the whole period, not just the period of rescue. Running an economy at a level of gearing in both the private and the banking sector, which is what has happened, has left us in a much worse position than that of the...

I cannot let that pass. The mismanagement encompasses the whole period, not just the period of rescue. Running an economy at a level of gearing in both the private and the banking sector, which is what has happened, has left us in a much worse position than that of the...

My Lords, these are pretty standard uprating orders but they give us an opportunity to discuss a consequence of Labour’s great recession that is often overlooked. When a company goes into insolvency, an employee does not just lose his job and his salary; he is also in danger of losing...

My Lords, these are pretty standard uprating orders but they give us an opportunity to discuss a consequence of Labour’s great recession that is often overlooked. When a company goes into insolvency, an employee does not just lose his job and his salary; he is also in danger of losing...

Draft Occupational Pension Schemes (Levy Ceiling) Order 2010 and the draft Pension Protection Fund (Pension Compensation Cap) Order 2010. Lords debate on motions to consider. Agreed to on question. Grand Committee held in the Moses Room.

Draft Occupational Pension Schemes (Levy Ceiling) Order 2010 and the draft Pension Protection Fund (Pension Compensation Cap) Order 2010. Lords debate on motions to consider. Agreed to on question. Grand Committee held in the Moses Room.

Moved By That the draft orders and regulations be referred to a Grand Committee. Motions agreed.

Moved By That the draft orders and regulations be referred to a Grand Committee. Motions agreed.