Part 1

The Pensions Regulator

Establishment

Membership of the Regulator
2
1
The Regulator is to consist of the following members—
a
a chairman appointed by the Secretary of State,
b
the Chief Executive of the Regulator, and
c
at least five other persons appointed by the Secretary of State after consulting the chairman.
2
The chairman must not be appointed from the staff of the Regulator or be the chairman of the Board of the Pension Protection Fund (see section 108).
3
At least two of the members appointed under subsection (1)(c) must be appointed from the staff of the Regulator.
4
In appointing persons under subsection (1)(c) the Secretary of State must secure that a majority of the members of the Regulator are non-executive members.
5
No member of the staff of the Board of the Pension Protection Fund is eligible for appointment as a member of the Regulator.
6
In this Part—
a
references to executive members of the Regulator are to—
i
the Chief Executive, and
ii
the members appointed under subsection (1)(c) from the staff of the Regulator, and
b
references to non-executive members of the Regulator are to members who are not executive members.