Moved by
Lord Newby
4: Clause 48, page 20, line 30, leave out “create exceptions to subsection (1)” and insert—
“(a) create an exception to subsection (1) in the case of a member or survivor whose subsisting rights in respect of safeguarded benefits under the scheme, or safeguarded benefits under the scheme and any other schemes, are worth less than a specified amount;
(b) create other exceptions to subsection (1).
( ) Regulations under subsection (3)(a) may, in particular, make provision about—
(a) the valuation of the subsisting rights;
(b) the process for determining whether the exception applies.”