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There are currently no known outstanding effects for the Superannuation Act 2010, Section 2.
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(1)Section 2 of the Superannuation Act 1972 is amended as follows.
(2)After subsection (3C) insert—
“(3D)So far as it relates to a provision of a scheme under the said section 1 which would have the effect of reducing the amount of a compensation benefit, the duty to consult in section 1(3) of this Act is a duty to consult with a view to reaching agreement with the persons consulted.”
(3)After subsection (11) insert—
“(11A)Subsection (11B) below applies if a scheme made under the said section 1 makes any provision which would have the effect of reducing the amount of a compensation benefit.
(11B)Before the scheme comes into operation, the Minister must have laid before Parliament a report providing information about—
(a)the consultation that took place for the purposes of section 1(3) of this Act, so far as relating to the provision,
(b)the steps taken in connection with that consultation with a view to reaching agreement in relation to the provision with the persons consulted, and
(c)whether such agreement has been reached.”
(4)The amendments made by this section apply in relation to reductions to which effect is given by a scheme made under section 1 of the 1972 Act after the coming into force of this section.
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