Serious Crime Act gets Royal Assent: The Serious Crime Act 2015 received Royal Assent. Among other things, the Act introduces an addition to section 338 of the Proceeds of Crime Act 2002 to clarify that where an authorised disclosure under that Act is made in good faith, no civil liability arises in respect of the disclosure on the part of the person by or on whose behalf it is made. (Source: Serious Crime Act Gets Royal Assent)
Pension Schemes Act gets Royal Assent: Treasury has announced the passing of the Pension Schemes Act 2015 following the grant of Royal Assent on 4 March. The Act:
- creates new pension plans, called "Defined Ambition" plans, which offer a guarantee of some of the benefits that contributors will ultimately receive;
- enables new collective pensions schemes, which will be able to pool risks between the members, to operate in the UK;
- puts in place the new pension guidance service, Pension Wise; and
- introduces an important safeguard so that, depending on the form of savings, people may have to obtain independent financial advice before they transfer.
Building Societies floating charge provisions take effect: The eighth commencement Order under the Banking Reform Act allows building societies to create floating charges from 26 March. (Source:Building Societies Floating Charge Provisions Take Effect)