SCHEDULES

C1SCHEDULE 1The trustee corporation

Annotations:
Modifications etc. (not altering text)

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.