We have previously reported here on the Equitable Life (Payment) Bill’s progress through the UK Parliament. The Act received Royal Assent and came into force on 16 December 2010.

The purpose of the Act is to enable the implementation of an Equitable Life Payment Scheme. It gives the Treasury statutory authority to make payments to eligible former and current Equitable Life Assurance Society (Equitable Life) policyholders who have been adversely affected by Government maladministration in the regulation of Equitable Life prior to December 2001.

The Act can be found here.