Select Committee on Social Affairs debate -
Thursday, 16 May 1996

SECTION 15.

Proinsias De Rossa

I move amendment No. 8:

In page 8, line 33, to delete "April, 1996" and substitute "January, 1997".

This amendment is to ensure that the revised section 48 of the Pensions Act, 1990, which clarifies priorities in relation to the winding up of the scheme will only apply to schemes which are wound up in the future. It was originally thought this Bill would be enacted before 1 April. Therefore, the date is now being put back to 1 January 1997. Pension schemes will, therefore, have adequate time to respond to the amendment.

Amendment agreed to.

Question proposed: "That section 15 stand part of the Bill."

Proinsias De Rossa

With regard to section 15, the text of lines 31 to 34 are to be realigned under subparagraphs (i) and (ii) above it.

Question put and agreed to.

Sections 16 and 17 agreed to.