Overview

This bill consolidates and updates the laws governing the House of Commons Members’ Fund, a fund providing grants to former MPs and their dependants. It streamlines existing legislation, clarifies the fund's operation, and sets out the trustees' powers and responsibilities.

Description

The bill establishes the continued existence of the House of Commons Members’ Fund, its purpose being to provide financial assistance to former Members of Parliament (MPs) and their dependants. The fund is managed by up to seven trustees, appointed by the House of Commons, with at least one trustee being a former MP.

Funding for the fund comes from a levy on current MPs' salaries, set annually by a House of Commons resolution. This levy cannot exceed 0.2% of an MP's salary. The trustees have the power to temporarily suspend or increase this levy depending on the fund's financial position. The trustees are responsible for managing the fund's assets, including investment decisions. They must maintain transparent accounts and publish regular reports. The bill specifies the trustees' powers regarding managing the fund, including accepting gifts, employing staff and investing. It also mandates the confidentiality of grant recipients' identities. Importantly, the bill repeals several older Acts of Parliament relating to the fund.

Government Spending

The bill does not directly impact government spending. Instead, it affects the management of a fund primarily financed by contributions from MPs' salaries.

Groups Affected

• Former MPs: May receive financial grants from the fund, subject to the trustees' assessment of their financial circumstances and the fund's resources.
• Dependants of former MPs: May also receive grants from the fund under the same conditions.
• Current MPs: Will contribute a percentage of their salaries to the fund, as determined annually by the House of Commons.
• Trustees of the fund: Have significant responsibilities in managing the fund and distributing grants.

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