Pension Schemes Bill [HL] — Report (Continued) — 19 Dec 2016 at 17:15
Moved by Baroness Drake
6: After Clause 8, insert the following new Clause-“Scheme funder of last resortNotwithstanding the provisions of section 8, the Secretary of State shall make provision for a funder of last resort, to manage any cases where the Master Trust has insufficient resources to meet the cost of complying with subsection (3)(b) of that section.”
Ayes 209, Noes 204.
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