Moved by
Viscount Younger of Leckie
115: Clause 80, page 56, line 3, at end insert—
“(1A) After subsection (1) insert—
“(1A) Subsection (1) must be complied with before the end of the period of one year beginning with the day on which the scheme’s first valuation under section 11 is completed.””
Member’s explanatory statement
This amendment imposes a time limit for scheme regulations to comply with section 12(1) of the Public Service Pension Schemes Act 2013 (which requires scheme regulations to set the employer cost cap for the scheme).
116: Clause 80, page 56, line 35, leave out “(5) and” and insert “(4A) to”
Member’s explanatory statement
This amendment is consequential on the new subsection inserted into this Clause after subsection (5).
117: Clause 80, page 56, line 35, at end insert—
“(4A) After subsection (1) insert—
“(1A) Subsection (1) must be complied with before the end of the period of one year beginning with the day on which the scheme’s first valuation under section 11 is completed.””
Member’s explanatory statement
This amendment imposes a time limit for scheme regulations to comply with section 12(1) of the Public Service Pension Schemes Act (Northern Ireland) 2014 (which requires scheme regulations to set the employer cost cap for the scheme).