SCHEDULES
SCHEDULE 4 Amendments of sections 25B to 25D of the Matrimonial Causes Act 1973
I11
1
Section 25B of the M1Matrimonial Causes Act 1973 is amended as follows.
2
In subsection (1), for “scheme”, wherever occurring, there is substituted “
arrangement
”
.
3
Subsection (2) ceases to have effect.
4
In subsection (3), for “scheme” there is substituted “
arrangement
”
.
5
In subsection (4)—
a
for “scheme”, wherever occurring, there is substituted “
arrangement
”
, and
b
for “trustees or managers of” there is substituted “
person responsible for
”
.
6
For subsection (5) there is substituted—
5
The order must express the amount of any payment required to be made by virtue of subsection (4) above as a percentage of the payment which becomes due to the party with pension rights.
7
In subsection (6)—
a
for “trustees or managers”, in the first place, there is substituted “
person responsible for the arrangement
”
, and
b
for “the trustees or managers”, in the second place, there is substituted “
his
”
.
8
In subsection (7)—
a
for the words from “may require any” to “those benefits” there is substituted “
has a right of commutation under the arrangement, the order may require him to exercise it to any extent
”
,
b
for “the payment of any amount commuted” there is substituted “
any payment due in consequence of commutation
”
, and
c
for “scheme” there is substituted “
arrangement
”
.
9
After that subsection there is inserted—
7A
The power conferred by subsection (7) above may not be exercised for the purpose of commuting a benefit payable to the party with pension rights to a benefit payable to the other party.
7B
The power conferred by subsection (4) or (7) above may not be exercised in relation to a pension arrangement which—
a
is the subject of a pension sharing order in relation to the marriage, or
b
has been the subject of pension sharing between the parties to the marriage.
7C
In subsection (1) above, references to benefits under a pension arrangement include any benefits by way of pension, whether under a pension arrangement or not.