Pensions Act 2007

Qualifications for non-executive members

2 (1) Before appointing a person to be the chairman or another non-executive member, the Secretary of State must satisfy himself that the person does not have a conflict of interest.

(2) The Secretary of State must also satisfy himself from time to time that the chairman and every other non-executive member does not have a conflict of interest.

(3) Any of the persons mentioned in sub-paragraph (4) must, if so requested by the Secretary of State, provide the Secretary of State with such information as he considers necessary for the purpose of discharging his duties under this paragraph.

(4) The persons are—

(a) a person whom the Secretary of State proposes to appoint to be the chairman or another non-executive member, and

(b) the chairman and other non-executive members.

(5) Sub-paragraphs (1) to (4) apply in connection with the approval by the Secretary of State of an appointment by the Authority as they apply in connection with an appointment by him.

(6) In this paragraph and paragraph 3 “conflict of interest”, in relation to a person, means a financial or other interest which is likely to affect prejudicially the discharge by him of his functions as a member of the Authority.

(7) But for the purposes of this paragraph and paragraph 3 a person is not to be taken to have a conflict of interest by reason only—

(a) that he is or has 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) that he has previously been a trustee or manager of such a scheme or an employee of such a trustee or manager.