SCHEDULES
SCHEDULE 6Parliamentary and other pensions
Part 3Amendments, transitional provision etc
Trustees of the Fund
I150
1
In this paragraph “the transitional period” means the period of six months beginning with the day on which paragraph 2 comes into force (other than for the purpose of making an appointment under paragraph 2(1)(a) or (b)).
2
During the transitional period—
a
paragraph 2(1) applies as if for paragraph (c) there were substituted—
c
the persons who (by virtue of section 1 of the Parliamentary and other Pensions Act 1987) are the trustees of the Fund immediately before the beginning of the transitional period.
b
paragraph 5 applies to persons who are trustees of the Fund because of paragraph (a) as if they were member-nominated trustees.
3
But if a person who is a trustee of the Fund immediately before the beginning of the transitional period is appointed under paragraph 2(1)(a) or (b) that person is not to be treated as being a trustee of the Fund because of sub-paragraph (2)(a).
4
The trustees of the Fund must make arrangements (the “transitional arrangements”) for 8 persons to be nominated and selected as member-nominated trustees before the end of the transitional period.
5
Those persons become member-nominated trustees immediately after the end of the transitional period.
6
Only persons who are trustees of the Fund immediately before the beginning of the transitional period may be nominated and selected as member-nominated trustees under the transitional arrangements.
7
But if it is not possible to secure 8 member-nominated trustees from among those persons, the deficiency may be supplied by other persons.
8
At the end of the transitional period any persons who—
a
immediately before the end of that period, are trustees of the Fund because of sub-paragraph (2)(a), but
b
have not been nominated and selected as member-nominated trustees,
cease to be trustees of the Fund.