PART II

PENSIONS
CHAPTER II

OCCUPATIONAL AND PERSONAL PENSION SCHEMES

Selection of trustees and of directors of corporate trustees

Member-nominated trustees
39
1
Article 16 of the Pensions Order (requirement for member-nominated trustees) shall be amended in accordance with subsections (2) to (8).
2
In paragraph (1)—
a
the words “(subject to Article 17)” and in sub-paragraph (b), the words “, and the appropriate rules,” shall cease to have effect; and
b
in sub-paragraph (a), for “persons selected” there shall be substituted “the selection of persons nominated”.
3
In paragraph (3)(a), for “in accordance with the appropriate rules” there shall be substituted “as a member-nominated trustee”.
4
In paragraph (4), for “the appropriate rules” there shall be substituted “regulations”.
5
In paragraph (5), after “six years” there shall be inserted “but for a member-nominated trustee to be eligible for selection again at the end of any period of service as such a trustee”.
6
After paragraph (6) there shall be inserted—
6A
The arrangements must provide that, where the employer so requires, a person who is not a qualifying member of the scheme must have the employer’s approval to qualify for selection as a member-nominated trustee.
.
7
In paragraph (8)—
a
for “The arrangements must” there shall be substituted
The arrangements—
a
must
; and
b
after “that fact” there shall be inserted
; and
b
may provide for a member-nominated trustee who—
i
is a qualifying member of one of the following descriptions, that is to say, an active, deferred or pensioner member, and
ii
ceases (without ceasing to be a qualifying member) to be a qualifying member of that description,
to cease, by virtue of that fact, to be a trustee
.
8
After paragraph (8) there shall be added—
9
Regulations may make provision in relation to arrangements under this Article—
a
supplementing the requirements of this Article as to the matters to be contained in the arrangements, and
b
providing for the manner in which, and the time within which, persons are, for the purposes of the arrangements, to be nominated and selected as member-nominated trustees.
10
This Article does not apply in the case of a trust scheme if—
a
every member of the scheme is a trustee of the scheme and no other person is such a trustee,
b
every trustee of the scheme is a company, or
c
the scheme is of a prescribed description.
.
9
Article 17 of that Order (exceptions) shall cease to have effect.