SCHEDULES
SCHEDULE 1

The trustee corporation
Part 2

Proceedings etc

Disqualification for acting in relation to certain matters
13
1
This paragraph applies if at any meeting of—
a
the trustee corporation, or
b
any committee or sub-committee,
a member of the trustee corporation or, as the case may be, of the committee or sub-committee has a direct or indirect interest in any matter falling to be considered at the meeting.
2
The person with the interest must declare it and the declaration must be recorded in the minutes of the meeting.
3
The person with the interest may not take part in any discussion or decision relating to the matter in which he has an interest, unless—
a
in the case of a meeting of the trustee corporation the other members who are present when the discussion or decision falls to take place or is made have resolved unanimously that the interest is to be disregarded, or
b
in the case of a meeting of a committee or sub-committee, the other members of the committee or sub-committee who are present when the discussion or decision falls to take place or is made have resolved in the manner authorised by the trustee corporation that the interest is to be disregarded.
4
In granting authorisations for the purposes of sub-paragraph (3)(b), the trustee corporation must secure that a resolution for those purposes does not allow a person to take part in a discussion or decision at a meeting of a committee established by virtue of paragraph 9(1)(a) or of a sub-committee of such a committee unless at least the following requirements are met—
a
the number of other members of the committee or sub-committee in favour of the resolution is not less than two-thirds of those who are both present and entitled to vote on the resolution, and
b
the number of other members of the committee or sub-committee in favour of the resolution is not less than its quorum.
5
For the purposes of this paragraph a general notification given at or sent to a relevant meeting that—
a
a person—
i
has an interest (as member, officer, employee or otherwise) in a specified body corporate or firm, or
ii
is connected with a specified person (other than a body corporate or firm), and
b
the person is to be regarded as interested in any matter involving that body corporate or firm or, as the case may be, person,
is to be regarded as compliance with sub-paragraph (2) in relation to any such matter for the purposes of that meeting and any subsequent relevant meeting of the same type which is held while the notification is in force.
6
Section 252 of the Companies Act 2006 (c. 46) (persons connected with a director) applies for determining whether a person is connected with another person for the purposes of sub-paragraph (5) as it applies for determining whether a person is connected with a director of a company.
7
A notification for the purposes of sub-paragraph (5) remains in force until it is withdrawn.
8
For the purposes of sub-paragraph (5) each of the following is a “relevant meeting”—
a
a meeting of the trustee corporation,
b
a meeting of a committee,
c
a meeting of a sub-committee,
and a relevant meeting is of the same type as another relevant meeting if both meetings are relevant meetings by virtue of falling within the same paragraph of this sub-paragraph.
9
A person required to make a declaration for the purposes of this paragraph in relation to any meeting—
a
is not required to attend the meeting, but
b
is to be taken to have complied with the requirements of this paragraph if he takes reasonable steps to secure that notice of his interest is read out at, and taken into consideration at, the meeting.
10
For the purposes of this paragraph a person is not to be taken to have an interest in any matter for these reasons only—
a
being or having previously been engaged, on behalf of the relevant authority, in activities connected with the discharge of the authority's functions relating to occupational pension schemes or personal pension schemes, or
b
having previously been a trustee or manager of such a scheme or an employee of such a trustee or manager.
Sch. 1 modified (5.7.2010) by The Personal Accounts Delivery Authority Winding Up Order 2010 (S.I. 2010/911), art. 9