Member

152: After Clause 110, insert the following new Clause— “Regulations(1) The Secretary of State must consult the trustee company before making—(a) regulations under section (Establishment of new public schemes and transfer of rights) which establish a new public scheme or transfer qualifying accrued rights to a new public scheme, or(b) regulations under section (Transfer of assets and liabilities) which make provision for the transfer of assets or liabilities. (2) The Secretary of State may not make regulations under any provision of this Chapter, other than under section (Information)(1), unless the Treasury have consented to the making of the regulations.(3) Regulations under section (Establishment of new public schemes and transfer of rights) are subject to the affirmative procedure if—(a) the making of the regulations is subject to the consent requirements (see section (Protection against adverse treatment: amendment of new public schemes)), or(b) the regulations make provision which has retrospective effect.(4) Regulations under section (Transfer of assets and liabilities) are subject to the affirmative procedure if they make provision falling with subsection (3)(c), (d) or (e) of that section.(5) Regulations under section (Information)(1) are subject to the affirmative procedure if they make provision about the amount of a financial penalty.(6) A statutory instrument containing regulations under section (Taxation) is subject to annulment in pursuance of a resolution of the House of Commons.(7) Any other regulations under this Chapter are subject to the negative procedure.”Member's explanatory statement This new clause contains provision about consultation and parliamentary scrutiny of regulations about the transfer of the AWE Pension Scheme. It will be the eighth clause of the new Chapter referred to in the explanatory statement for the amendment in the name of Baroness Sherlock to insert the new clause “Establishment of new public schemes and transfer of rights”.