SCHEDULES

C1SCHEDULE 5The Board of the Pension Protection Fund

Annotations:

Part 1Members of the Board

Appointment of ordinary members

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1

The appointments of the first five ordinary members are to be made by the Secretary of State.

2

Subsequent appointments of ordinary members are to be made by the Board, subject to sub-paragraph (4).

3

In making any appointment by virtue of sub-paragraph (2) the Board must act in accordance with any procedure for making such appointments that may be prescribed.

4

If, at any time, there are less than five ordinary members, the Secretary of State must appoint such number of ordinary members as is required to bring the number of ordinary members to five.