Overview

This bill consolidates and amends the laws governing the House of Commons Members' Fund, a fund that provides grants to former Members of Parliament and their dependents. It streamlines existing legislation, clarifies the fund's operation, and updates its governance.

Description

The bill establishes a continued House of Commons Members' Fund, with a purpose to provide grants to former MPs and their dependents based on financial need and the fund's resources. The fund is managed by up to seven trustees, appointed by the House of Commons, with at least one potentially being a former MP. A levy on current MPs' salaries funds the scheme, capped at 0.2% of salary per year. The amount of the levy is determined annually by the House of Commons. The trustees have the power to adjust the levy or temporarily suspend it depending on the fund's financial health. The bill includes provisions for managing the fund's finances, including investment, accounting, and reporting to Parliament. It also repeals previous legislation relating to the fund, replacing it with this consolidated act. The bill also ensures confidentiality regarding grant recipients. Trustees are indemnified against legal action unless it involves dishonesty, bad faith, or recklessness.

Government Spending

The bill doesn't directly impact government spending. Instead, it establishes a system where a levy on MPs' salaries funds the House of Commons Members' Fund. Any surplus funds may be returned to the Treasury.

Groups Affected

• Former Members of Parliament: May receive financial grants from the fund.
• Dependents of former Members of Parliament: May receive financial grants from the fund.
• Current Members of Parliament: Will have a portion of their salary deducted to contribute to the fund.
• The Treasury: May receive a return of any surplus funds from the House of Commons Members' Fund.

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