C1Part 1The Pensions Regulator
Establishment
2Membership of the Regulator
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The Regulator is to consist of the following members—
a
a chairman appointed by the Secretary of State,
b
the Chief Executive of the Regulator, and
c
at least five other persons appointed by the Secretary of State after consulting the chairman.
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The chairman must not be appointed from the staff of the Regulator or be the chairman of the Board of the Pension Protection Fund (see section 108).
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At least two of the members appointed under subsection (1)(c) must be appointed from the staff of the Regulator.
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In appointing persons under subsection (1)(c) the Secretary of State must secure that a majority of the members of the Regulator are non-executive members.
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No member of the staff of the Board of the Pension Protection Fund is eligible for appointment as a member of the Regulator.
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In this Part—
a
references to executive members of the Regulator are to—
i
the Chief Executive, and
ii
the members appointed under subsection (1)(c) from the staff of the Regulator, and
b
references to non-executive members of the Regulator are to members who are not executive members.
Pt. 1 applied in part (with modifications) (20.7.2005 for specified purposes, 1.9.2005 for specified purposes, 5.12.2005 for specified purposes) by The Financial Assistance Scheme Regulations 2005 (S.I. 2005/1986), regs. 1(1), 4, Sch. 1 Pt. 1 (as amended (17.7.2008) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2008 (S.I. 2008/1903), regs. 1, 5(2), 13; (10.7.2009) by The Financial Assistance Scheme (Miscellaneous Provisions) Regulations 2009 (S.I. 2009/1851), regs. 1, 5, 18; (2.4.2010) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2010 (S.I. 2010/1149), regs. 1, 5, 15)