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Equitable Life (Payments) Act 2010-12

Type of Bill:
Government Bill
Mr Mark Hoban
HM Treasury
Lord Sassoon
HM Treasury

Progress of the Bill

Bill started in the House of Commons

  1. House of Commons
    1. 1st reading
    2. 2nd reading
    3. Committee stage
    4. Report stage
    5. 3rd reading
  2. House of Lords
    1. 1st reading
    2. 2nd reading
    3. Committee stage
    4. Report stage
    5. 3rd reading
  3. Consideration of Amendments
  4. Royal Assent

Last event

Act of Parliament

House Act Date
Equitable Life (Payments) Act 2010 c.34 23.12.2010

Latest news on the Bill

Following agreement by both Houses on the text of the Bill it received Royal Assent on 16 December. The Bill is now an Act of Parliament (law).

Summary of the Bill

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.

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