49(1)This paragraph applies if, under an order under section 52, paragraph 2 comes into force for the purpose of making an appointment under paragraph 2(1)(a) or (b) before it comes into force for other purposes.U.K.
(2)The reference in paragraph 2(1)(a) or (b) to the persons who are already trustees of the Fund is to the persons who are trustees of the Fund by virtue of section 1 of the Parliamentary and other Pensions Act 1987.
Commencement Information
I1Sch. 6 para. 49 in force at 24.10.2011 by S.I. 2011/2485, art. 2(1)(2)(c)(vi)
50(1)In this paragraph “the transitional period” means the period of six months beginning with the day on which paragraph 2 comes into force (other than for the purpose of making an appointment under paragraph 2(1)(a) or (b)).U.K.
(2)During the transitional period—
(a)paragraph 2(1) applies as if for paragraph (c) there were substituted—
“(c)the persons who (by virtue of section 1 of the Parliamentary and other Pensions Act 1987) are the trustees of the Fund immediately before the beginning of the transitional period.”, and
(b)paragraph 5 applies to persons who are trustees of the Fund because of paragraph (a) as if they were member-nominated trustees.
(3)But if a person who is a trustee of the Fund immediately before the beginning of the transitional period is appointed under paragraph 2(1)(a) or (b) that person is not to be treated as being a trustee of the Fund because of sub-paragraph (2)(a).
(4)The trustees of the Fund must make arrangements (the “transitional arrangements”) for 8 persons to be nominated and selected as member-nominated trustees before the end of the transitional period.
(5)Those persons become member-nominated trustees immediately after the end of the transitional period.
(6)Only persons who are trustees of the Fund immediately before the beginning of the transitional period may be nominated and selected as member-nominated trustees under the transitional arrangements.
(7)But if it is not possible to secure 8 member-nominated trustees from among those persons, the deficiency may be supplied by other persons.
(8)At the end of the transitional period any persons who—
(a)immediately before the end of that period, are trustees of the Fund because of sub-paragraph (2)(a), but
(b)have not been nominated and selected as member-nominated trustees,
cease to be trustees of the Fund.
Commencement Information
I2Sch. 6 para. 50 in force at 24.10.2011 by S.I. 2011/2485, art. 2(1)(2)(c)(vi)