PART 2Governance

The Pension Board: membership6

1

The Pension Board is to consist of the following members who are to be entitled to vote in its proceedings—

a

a chair appointed by the scheme manager;

b

board members, to be appointed by the scheme manager;

2

The total number of board members shall be determined by the scheme manager.

3

The Pension Board shall comprise of an equal number of employer representatives and member representatives and for these purposes the scheme manager must be satisfied that—

a

a person appointed as an employer representative has the capacity and understanding to represent it as employer;

b

a person appointed as a member representative has the capacity and understanding to represent members.

4

A member of the Pension Board is to hold and vacate office in accordance with the terms of that member's appointment.