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Prospective
2For [F1section 21 and 21A] (definitions) substitute—E+W
(1)For the purposes of this Act, a financial provision order is—
(a)an order that a party must make in favour of another person such periodical payments, for such term, as may be specified (a “periodical payments order”);
(b)an order that a party must, to the satisfaction of the court, secure in favour of another person such periodical payments, for such term, as may be specified (a “secured periodical payments order”);
(c)an order that a party must make a payment in favour of another person of such lump sum or sums as may be specified (an “order for the payment of a lump sum”).
(2)For the purposes of this Act, a property adjustment order is—
(a)an order that a party must transfer such of his or her property as may be specified in favour of the other party or a child of the family;
(b)an order that a settlement of such property of a party as may be specified must be made, to the satisfaction of the court, for the benefit of the other party and of the children of the family, or either or any of them;
(c)an order varying, for the benefit of the parties and of the children of the family, or either or any of them, any marriage settlement [F3, other than one in the form of a pension arrangement (within the meaning of section 25D below)];
(d)an order extinguishing or reducing the interest of either of the parties under any marriage settlement [F3, other than one in the form of a pension arrangement (within the meaning of section 25D below)].
[F4(3)For the purposes of this Act, a pension sharing order is an order which—
(a)provides that one party’s—
(i)shareable rights under a specified pension arrangement, or
(ii)shareable state scheme rights,
be subject to pension sharing for the benefit of the other party, and
(b)specifies the percentage value to be transferred.]
F5(4)Subject to section 40 below, where an order of the court under this Part of this Act requires a party to make or secure a payment in favour of another person or to transfer property in favour of any person, that payment must be made or secured or that property transferred—
(a)if that other person is the other party to the marriage, to that other party; and
(b)if that other person is a child of the family, according to the terms of the order—
(i)to the child; or
(ii)to such other person as may be specified, for the benefit of that child.
(5)References in this section to the property of a party are references to any property to which that party is entitled either in possession or in reversion.
(6)Any power of the court under this Part of this Act to make such an order as is mentioned in subsection (2)(b) to (d) above is exercisable even though there are no children of the family.
[F6(7)In subsection (3)—
(a)the reference to shareable rights under a pension arrangement is to rights in relation to which pension sharing is available under Chapter I of Part IV of the Welfare Reform and Pensions Act 1999, or under corresponding Northern Ireland legislation, and
(b)the reference to shareable state scheme rights is to rights in relation to which pension sharing is available under Chapter II of Part IV of the Welfare Reform and Pensions Act 1999, or under corresponding Northern Ireland legislation.]
[F7(8)In this section—
“marriage settlement” means an ante-nuptial or post-nuptial settlement made on the parties (including one made by will or codicil);
“party” means a party to a marriage; and
“specified” means specified in the order in question.”]
Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.
Amendments (Textual)
F2Sidenote set out in Sch. 2 para. 2 substituted (1.12.2000) by 1999 c. 30, s. 84, Sch. 12 Pt. I para. 65(1)(3); S.I. 2000/1116, art. 2(b)(f)
F3Words in s.21(2)(c)(d) set out in Sch. 2 para. 2 inserted (1.12.2000) by 1999 c. 30, s. 84, Sch. 12 Pt. I para. 65(1)(4); S.I. 2000/1116, art. 2(b)(f)
F4S. 21(3) set out in Sch. 2 para. 2 inserted (1.12.2000) by 1999 c. 30, s. 84, Sch. 12 Pt. I para. 65(1)(5); S.I. 2000/1116, art. 2(b)(f).
F5S. 21(4)(5)(6) set out in Sch. 2 para. 2 renumbered for s. 21(3)(4)(5) (1.12.2000) by 1999 c. 30, s. 84, Sch. 12 Pt. I para. 65(1)(6); S.I. 2000/1116, art. 2(b)(f)
F6S. 21(7) set out in Sch. 2 para. 2 inserted (1.12.2000) by 1999 c. 30, s. 84, Sch. 12 Pt. I para. 65(1)(7); S.I. 2000/1116, art. 2(b)(f)
F7S. 21(8) set out in Sch. 2 para. 2 renumbered for s. 21(6) (1.12.2000) by 1999 c. 30, s. 84, Sch. 12 Pt. I para. 65(1)(8); S.I. 2000/1116, art. 2(b)(f)
Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.
Amendments (Textual)
F1Words in Sch. 2 para. 2 substituted (1.12.2000) by 1999 c. 30, s. 84, Sch. 12 Pt. I para. 65(1)(2); S.I. 2000/1116, art. 2(b)(f)
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