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Pensions Act 2004

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Changes over time for: Part 1

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Point in time view as at 08/03/2005.

Changes to legislation:

Pensions Act 2004, Part 1 is up to date with all changes known to be in force on or before 20 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Part 1 U.K.Members of the Regulator

Terms of appointment and tenure of membersU.K.

1(1)The members of the Regulator appointed by the Secretary of State under section 2(1)(a) or (c) are to be appointed on such terms and conditions as are determined by the Secretary of State.U.K.

(2)Subject to sub-paragraph (3), such a member—

(a)is to hold and vacate office in accordance with the terms and conditions of his appointment, and

(b)may resign or be removed from office in accordance with those terms and conditions.

(3)A person must cease to be a member of the Regulator where—

(a)in the case of the chairman, he ceases to hold that office or becomes a member of the staff of the Regulator;

(b)in the case of any other non-executive member, he becomes a member of the staff of the Regulator;

(c)in the case of an executive member appointed under section 2(1)(c), he ceases to be a member of the staff of the Regulator.

Commencement Information

I1Sch. 1 para. 1 in force at 17.12.2004 by S.I. 2004/3350, art. 2, Sch.

2U.K.Where a person ceases to be employed as Chief Executive, he ceases to be a member of the Regulator.

Commencement Information

I2Sch. 1 para. 2 in force at 17.12.2004 by S.I. 2004/3350, art. 2, Sch.

3U.K.No person is to be prevented from being a member of the Regulator (whether as chairman or otherwise) merely because he has previously been such a member.

Commencement Information

I3Sch. 1 para. 3 in force at 17.12.2004 by S.I. 2004/3350, art. 2, Sch.

Remuneration etc of membersU.K.

4U.K.The Regulator may pay, or make provision for paying, its non-executive members such remuneration as the Secretary of State may determine.

Commencement Information

I4Sch. 1 para. 4 in force at 17.12.2004 by S.I. 2004/3350, art. 2, Sch.

5U.K.The Regulator may—

(a)pay to or in respect of any person who is or has been a non-executive member such pension, allowances or gratuities as the Secretary of State may determine, or

(b)make such payments as the Secretary of State may determine towards provision for the payment of a pension, allowance or gratuity to or in respect of such a person.

Commencement Information

I5Sch. 1 para. 5 in force at 17.12.2004 by S.I. 2004/3350, art. 2, Sch.

6U.K.Where—

(a)a non-executive member ceases to be a member otherwise than on the expiry of his term of office, and

(b)it appears to the Secretary of State that there are circumstances which make it right for that person to receive compensation,

the Regulator may make a payment to that person of such amount as the Secretary of State may determine.

Commencement Information

I6Sch. 1 para. 6 in force at 17.12.2004 by S.I. 2004/3350, art. 2, Sch.

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