PART IIN.I.Occupational Pensions

Supervision by the AuthorityN.I.

Appointment of trusteesN.I.

7.—(1) Where a trustee of a trust scheme is removed by an order under Article 3, orF1. . . by reason of his disqualification, the Authority may by order appoint another trustee in his place.

(2) Where a trustee appointed under paragraph (1) is appointed to replace a trustee appointed under[F1 Article 23(1)], Articles 22 to 26 shall apply to the replacement trustee as they apply to a trustee appointed under[F1 Article 23(1)].

(3) The Authority may also by order appoint a trustee of a trust scheme where they are satisfied that it is [F2reasonable] to do so in order—

(a)to secure that the trustees as a whole have, or exercise, the necessary knowledge and skill for the proper administration of the scheme,

(b)to secure that the number of trustees is sufficient for the proper administration of the scheme, F3. . .

(c)to secure the proper use or application of the assets of the scheme.

[F4, or

(d)otherwise to protect the interests of the generality of the members of the scheme.]

Para. (4) rep. by 2005 NI 1

(5) The power to appoint a trustee by an order under this Article includes power by such an order—

(a)to determine the appropriate number of trustees for the proper administration of the scheme,

(b)to require a trustee appointed by the order to be paid fees and expenses out of the scheme's resources,

(c)to provide for the removal or replacement of such a trustee.

[F1(5A) An application may be made to the Authority in relation to a trust scheme by—

(a)the trustees of the scheme,

(b)the employer, or

(c)any member of the scheme,

for the appointment of a trustee of the scheme under paragraph (3)(a) or (c).]

(6) Regulations may make provision about the descriptions of persons who may or may not be appointed trustees under this Article.