1(1)Section 25B of the M1Matrimonial Causes Act 1973 is amended as follows.E+W+S
(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.”
Commencement Information
I1Sch. 4 para. 1 wholly in force at 1.12.2000; Sch. 4 para. 1 in force for certain purposes at Royal Assent see s. 89(1)(5); Sch. 4 para. 1 in force at 1.12.2000 by S.I. 2000/1116, art. 2(e)
Marginal Citations