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Bill · started in the Commons

Equitable Life (Payments) Act 2010

A Bill to provide finance for payments in cases where persons have been adversely affected by maladministration in the regulation before December 2001 of the Equitable Life Assurance Society; and for connected purposes.

Now an Act of Parliament

The story so farThe Equitable Life (Payments) Bill was introduced in the House of Commons on 22 July 2010 by Mr Mark Hoban (Conservative). It completed its passage through Parliament and became law as the Equitable Life (Payments) Act 2010, receiving Royal Assent on 16 December 2010.

What the bill does

The Bill provides the authority for a payments scheme for eligible former and current Equitable Life policyholders in respect of the consequences of maladministration by regulatory bodies as identified by the Ombudsman and accepted by government. Although the precise shape of the payments scheme is as yet unknown, the Bill provides the authority for money to be paid once the scheme is set up and clarifies the tax treatment of future payments.

Progress through Parliament

  1. 1st reading Commons 22 Jul 2010
  2. 2nd reading Commons 14 Sep 2010
  3. Programme motion Commons 14 Sep 2010
  4. Money resolution Commons 14 Sep 2010
  5. Committee stage Commons 10 Nov 2010
  6. 3rd reading Commons 10 Nov 2010
  7. 1st reading Lords 11 Nov 2010
  8. 2nd reading Lords 24 Nov 2010
  9. Committee negatived Lords 24 Nov 2010
  10. 3rd reading Lords 24 Nov 2010
  11. Royal Assent Unassigned 16 Dec 2010

Source: the official bill page. Last updated 27 Oct 2011.