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.