SCHEDULES
C1SCHEDULE 1The trustee corporation
Part 1Members and employees
Disqualification and removal
3
1
A person is disqualified for appointment as a member if—
a
prohibited by an order under section 3 of the Pensions Act 1995 (c. 26) or Article 3 of the Pensions (Northern Ireland) Order 1995 (S.I. 1995/3213 (N.I. 22)) from being a trustee of trust schemes in general, or
b
suspended by an order under section 4 of that Act or Article 4 of that Order as a trustee of any scheme.
2
While the trustee corporation is a trustee of a scheme established under section 67, section 3 of that Act applies in relation to being a member of the trustee corporation as it applies in relation to being a trustee of the scheme.
3
The Pensions Regulator may also make an order under section 3 of that Act as applied by sub-paragraph (2) at any time when it would have power to make an order under section 4 of that Act (suspension) if the person were a trustee of the scheme.
4
1
A person is disqualified for appointment as a member if disqualified under section 29 of the Pensions Act 1995 or Article 29 of the Pensions (Northern Ireland) Order 1995 (S.I. 1995/3213 (N.I. 22)) for being a trustee of a trust scheme.
2
A person is not disqualified under this paragraph if the Pensions Regulator has given the person a general waiver under section 29(5) of that Act or Article 29(5) of that Order.
3
The Pensions Regulator may, on the application of a person disqualified under this paragraph, give the person notice in writing waiving the disqualification.
4
A member who becomes disqualified under sub-paragraph (1) ceases to be a member.
5
The Secretary of State may remove a member from office if satisfied that the member—
a
has a conflict of interest,
b
is unfit for office by reason of misconduct,
c
has failed to comply with the terms of appointment,
d
has without reasonable excuse failed to discharge the functions of the office, or
e
is otherwise incapable of discharging, or unfit or unwilling to discharge, the functions of the office.
Sch. 1 modified (5.7.2010) by The Personal Accounts Delivery Authority Winding Up Order 2010 (S.I. 2010/911), art. 9