Pensions Act 2008

Part 2 U.K. Proceedings etc

Committees and advisory committees U.K.

9 (1) The trustee corporation may— U.K.

(a) establish a committee for the purpose of discharging any of its functions;

(b) establish a committee for the purpose of giving the corporation advice about matters relating to the discharge of its functions.

(2) A committee may include persons (including persons constituting a majority, but not the whole, of the committee) who are neither members nor employees of the trustee corporation.

(3) Where a person who is neither a member nor an employee of the trustee corporation is a member of a committee, the trustee corporation may pay to that person such remuneration and expenses as it may determine.

10 (1) A committee of the trustee corporation may establish a sub-committee. U.K.

(2) Every member of a sub-committee must be a member of the committee which established it.

Proceedings U.K.

11 (1) The trustee corporation may, subject to this Schedule— U.K.

(a) regulate its own procedure;

(b) regulate the procedure of its committees or sub-committees;

(c) enable committees or sub-committees to regulate their own procedure subject to any provision made by the corporation.

(2) The trustee corporation must publish, in such manner as it thinks fit, its own procedures and those of its committees and sub-committees.

(3) This paragraph has effect subject to paragraph 13 (disqualification for acting in relation to certain matters).

12 U.K. The trustee corporation must make arrangements for the keeping of proper records—

(a) of its proceedings,

(b) of the proceedings of its committees and sub-committees,

(c) of anything done by an employee or member of the corporation under paragraph 14(a) or (b) (delegation to member or employee).

Disqualification for acting in relation to certain matters U.K.

13 (1) This paragraph applies if at any meeting of— U.K.

(a) the trustee corporation, or

(b) any committee or sub-committee,

a member of the trustee corporation or, as the case may be, of the committee or sub-committee has a direct or indirect interest in any matter falling to be considered at the meeting.

(2) The person with the interest must declare it and the declaration must be recorded in the minutes of the meeting.

(3) The person with the interest may not take part in any discussion or decision relating to the matter in which he has an interest, unless—

(a) in the case of a meeting of the trustee corporation the other members who are present when the discussion or decision falls to take place or is made have resolved unanimously that the interest is to be disregarded, or

(b) in the case of a meeting of a committee or sub-committee, the other members of the committee or sub-committee who are present when the discussion or decision falls to take place or is made have resolved in the manner authorised by the trustee corporation that the interest is to be disregarded.

(4) In granting authorisations for the purposes of sub-paragraph (3)(b), the trustee corporation must secure that a resolution for those purposes does not allow a person to take part in a discussion or decision at a meeting of a committee established by virtue of paragraph 9(1)(a) or of a sub-committee of such a committee unless at least the following requirements are met—

(a) the number of other members of the committee or sub-committee in favour of the resolution is not less than two-thirds of those who are both present and entitled to vote on the resolution, and

(b) the number of other members of the committee or sub-committee in favour of the resolution is not less than its quorum.

(5) For the purposes of this paragraph a general notification given at or sent to a relevant meeting that—

(a) a person—

(i) has an interest (as member, officer, employee or otherwise) in a specified body corporate or firm, or

(ii) is connected with a specified person (other than a body corporate or firm), and

(b) the person is to be regarded as interested in any matter involving that body corporate or firm or, as the case may be, person,

is to be regarded as compliance with sub-paragraph (2) in relation to any such matter for the purposes of that meeting and any subsequent relevant meeting of the same type which is held while the notification is in force.

(6) Section 252 of the Companies Act 2006 (c. 46) (persons connected with a director) applies for determining whether a person is connected with another person for the purposes of sub-paragraph (5) as it applies for determining whether a person is connected with a director of a company.

(7) A notification for the purposes of sub-paragraph (5) remains in force until it is withdrawn.

(8) For the purposes of sub-paragraph (5) each of the following is a “relevant meeting”—

(a) a meeting of the trustee corporation,

(b) a meeting of a committee,

(c) a meeting of a sub-committee,

and a relevant meeting is of the same type as another relevant meeting if both meetings are relevant meetings by virtue of falling within the same paragraph of this sub-paragraph.

(9) A person required to make a declaration for the purposes of this paragraph in relation to any meeting—

(a) is not required to attend the meeting, but

(b) is to be taken to have complied with the requirements of this paragraph if he takes reasonable steps to secure that notice of his interest is read out at, and taken into consideration at, the meeting.

(10) For the purposes of this paragraph a person is not to be taken to have an interest in any matter for these reasons only—

(a) being or having 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) having previously been a trustee or manager of such a scheme or an employee of such a trustee or manager.

Delegation U.K.

14 U.K. The trustee corporation may, subject to an order or rules under section 67, delegate any function conferred on it to—

(a) a member,

(b) an employee or other member of staff, or

(c) a committee.

Validity of proceedings U.K.

15 U.K. The validity of proceedings of the trustee corporation, a committee or a sub-committee is not affected by a vacancy among the members or a defect in appointment.

Authentication of the trustee corporation's seal E+W+N.I.

16 (1) The application of the trustee corporation's seal must be authenticated by the signature of— E+W+N.I.

(a) a member, or

(b) any other person authorised by the trustee corporation (whether generally or specially) for the purpose.

(2) A document purporting to be duly executed under the seal of the trustee corporation, or to be signed on behalf of the trustee corporation, is to be received in evidence and, except to the extent that the contrary is shown, taken to be duly so executed or signed.

(3) This paragraph does not apply to Scotland.

Annual report U.K.

17 (1) As soon as is reasonably practicable after the end of each financial year, the trustee corporation must send to the Secretary of State a report on the exercise of the trustee corporation's functions during that year. U.K.

(2) The report must include—

(a) a report on the trustee corporation's proceedings during the year, and

(b) any information the Secretary of State directs, relating to the financial position of the trustee corporation or any other matter.

(3) The Secretary of State must lay before Parliament a copy of each report received under this paragraph.