Amendments Nos. 15 and 16 are related to amendment No. 14 and all may be discussed together by agreement. Is that agreed? Agreed.
SECTION 24.
I move amendment No. 14:
In page 13, line 14, after "make an order" to insert "on such terms and subject to such directions as to notification of relevant parties as it may think".
This amendment expands on the new section 63A in the Bill, which relates to the suspension of trustees, by empowering the High Court to include in an order under the section directions on notification to various relevant parties when it considers such notification appropriate. It will be left to the discretion of the court to decide whether such directions should be given.
Amendment No. 15 is intended to make clear that the reference in subsection (10) relates to orders referred to in subsection (9), as subsection (9), in turn, refers to orders made under subsection (1). This amendment makes it clear that it is orders made under subsection (1) which are being referred to in subsection (10).
Amendment No. 16 provides for a new subsection (11) of the new section 63A which would allow for the revesting of scheme property when the temporary appointment of a trustee in place of a suspended trustee has come to an end.
Amendment agreed to.
I move amendment No. 15:
In page 14, line 38, to delete "under" and substitute "referred to in".
Amendment agreed to.
I move amendment No. 16:
In page 14, between lines 48 and 49, to insert the following:
"(11) Where an order referred to in subsection (9) ceases to have an effect, the Court may be a further order make provision for the vesting of the property of the scheme concerned in the persons who are the trustees of the said scheme.".
Amendment agreed to.
Question proposed: "That section 24, as amended, stand part of the Bill."
Section 24 introduces a power to suspend a trustee. Under section 63B, it makes it an offence for a suspended trustee to act as a trustee of a scheme and sets out the penalties for such an offence. Does that refer to any scheme?
It does.
Question put and agreed to.
Section 25 agreed to.