Section 46
1The Pensions Act 1995 is amended as follows.
2In section 6 (removal or suspension of trustees: consequences)—
(a)in subsections (1) and (3), after “section 3” insert “or 3A”;
(b)in subsection (4), after “section 3” insert “, 3A”.
3In section 7 (appointment of trustees), in subsection (1), after “section 3,” insert “by section 3A”.
4In section 9 (removal and appointment of trustees: property), after “a trustee” insert “or a trustee is removed under section 3A”.
5The Pensions Act 2004 is amended as follows.
6In section 10 (functions exercisable by the Determinations Panel), in subsection (6), after paragraph (e) insert—
“(ea)section 3A(3) of that Act (application for waiver of prohibition);”.
7In section 66 (register of prohibited trustees), in subsection (1), for the words from “of all” to the end substitute “(“the prohibition register”) of—
“(a)all persons who are prohibited under section 3 of the Pensions Act 1995, and
(b)all persons appearing to the Regulator to be prohibited under section 3A of that Act.”
8In section 96 (Pensions Regulator’s regulatory functions: standard procedure), in subsection (6), after paragraph (i) insert—
“(ia)the power under section 3A(3) of that Act to give a notice waiving a prohibition;”.
9In section 97 (Pensions Regulator’s regulatory functions: special procedure), in subsection (5), after paragraph (j) insert—
“(ja)the power under section 3A(3) of that Act to give a notice waiving a prohibition;”.
10(1)Schedule 2 (Pensions Regulator’s reserved regulatory functions) is amended as follows.
(2)After paragraph 5 insert—
“5AThe power under section 3A(3) to give a notice waiving a prohibition.”
(3)In paragraph 9(a), after “orders)” insert “or by section 3A”.