Equitable Life (Payments) Act 2010
Progress of the Bill
Bill started in the House of Commons
- House of Commons
- House of Lords
- Royal Assent
- Royal Assent 16 December, 2010 | 16.12.2010
Act of Parliament
|Equitable Life (Payments) Act 2010 c.34||23.12.2010|
Latest news on the Equitable Life (Payments) Act 2010
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 Equitable Life (Payments) Act 2010The 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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