Child Support, Pensions and Social Security Act 2000

Prospective

45 Employer’s proposals for selection of trustees or directors. E+W+S

(1) After section 18 of the M1 Pensions Act 1995 there shall be inserted—

“ Further provisions about the selection of trustees and directors E+W+S

18A Employer’s proposals for selection of trustees or directors.

(1) Where, in the case of any trust scheme—

(a) the employer makes proposals for the adoption of arrangements for the nomination and selection of the trustees of the scheme,

(b) the proposed arrangements comply with all the requirements of section 16 and do not contain anything inconsistent with those requirements,

(c) the proposed arrangements comply with such other requirements as may be prescribed,

(d) the proposed arrangements are approved under such procedure for obtaining the views of members of the scheme as may be prescribed, and

(e) such other conditions are satisfied as may be prescribed,

the trustees of the scheme shall secure that the proposed arrangements are made and implemented.

(2) Where, in the case of any company which is trustee of a trust scheme of which there is no trustee who is not a company—

(a) the employer makes proposals for the adoption of arrangements for the nomination and selection of the directors of the company,

(b) the proposed arrangements comply with all the requirements of section 18 and do not contain anything inconsistent with those requirements,

(c) the proposed arrangements comply with such other requirements as may be prescribed,

(d) the proposed arrangements are approved under such procedure for obtaining the views of members of the scheme as may be prescribed, and

(e) such other conditions are satisfied as may be prescribed,

the company shall secure that the proposed arrangements are made and implemented.

(3) Arrangements made and implemented under this section may include provision that is different from that for which provision is made by regulations under section 16(9) or 18(9).

(4) Regulations may make provision—

(a) as to the manner in which, and the time within which, arrangements proposed and approved for the purposes of this section are to be implemented by the trustees of a trust scheme or by a company which is a trustee of a trust scheme; and

(b) as to what is to happen where an approval for the purposes of this section of any arrangements ceases, in accordance with regulations, to have effect.

(5) Regulations about the manner in which anything is approved for the purposes of this section may provide—

(a) for it to be treated as approved in accordance with the prescribed procedure where the Authority determine that prescribed conditions have been satisfied in relation to any departures from that procedure that have occurred; and

(b) for persons who do not object to it to be treated as having approved it.

(6) Regulations may provide that, for the purposes of this section and any arrangements under this section, arrangements are to be taken as complying with the requirements of section 16 or 18, and as being consistent with those requirements, notwithstanding that nominations made for the purposes of the arrangements by a person or organisation which—

(a) represents for any particular purposes the interests of persons who are comprised in the membership of the scheme in question, and

(b) is of such a description as is specified in the regulations,

are to be treated under the arrangements as nominations, or as the only nominations, made by qualifying members of the scheme.

(7) Provision made by or under the preceding provisions of this section with respect to member-nominated trustees does not apply in the case of a trust scheme if—

(a) every member of the scheme is a trustee of the scheme and no other person is such a trustee; or

(b) every trustee of the scheme is a company.

(8) Provision made by or under the preceding provisions of this section does not apply if the scheme is of a prescribed description.”

(2) In section 68(2)(b) of that Act (power of trustee to modify scheme), for “17(2)” there shall be substituted “18A(1)”.

(3) In section 117(2)(c) of that Act (overriding requirements), for “17(2)” there shall be substituted “18A(1)”.

Marginal Citations

M1 1995 c. 26.