Search Legislation

Writers to the Signet Dependants' Annuity Fund Amendment (Scotland) Act 2018

The Act

3.The main purpose of the Act is to address a restriction contained in the Writers to the Signet Dependants’ Annuity Fund Order Confirmation Act 1982 (“the 1982 Act”) as to the identity of the ‘collector’ of the Writers to the Signet Dependants’ Annuity Fund (“the Fund”). The Act removes the requirement that the collector be a contributor to the Fund and introduces a new requirement that the collector be an individual. The change does not affect the provisions on election of the collector contained in the 1982 Act and does not otherwise affect the role or functions of the collector.

4.The change protects against the risk that the pool of available persons eligible to be elected as collector will be reduced to zero. The number of contributors to the Fund is steadily diminishing, the Fund having been closed to new contributors in 1989. It also gives the members of the Fund the opportunity to elect an individual with relevant experience and expertise notwithstanding that individual is not a contributor to the Fund.

5.A secondary purpose of the Bill is to modernise the definition of “actuary” in the 1982 Act to reflect changes in terminology following the merger of the Faculty of Actuaries in Scotland and the Institute of Actuaries in 2011.

Back to top

Options/Help

Print Options

Close

Explanatory Notes

Text created by the Scottish Executive department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources