C1C2C5Part I Occupational pensions

Annotations:
Modifications etc. (not altering text)
C5

Pt. I: Pensions Act 2004 (c.35), Pt. 3 construed as one with Pt. I of this Act (4.12.2005 for specified purposes, 30.12.2005 in so far as not already in force) by Pensions Act 2004 (c. 35), ss. 233, 322(1) (with s. 313); S.I. 2005/3331, art. 2(1)(a)(b), Sch. Pt. 1

Trustees: general

I1I2C3C427 Trustee not to be auditor or actuary of the scheme.

1

A trustee of a trust scheme, and any person who is connected with, or an associate of, such a trustee, is ineligible to act as an auditor or actuary of the scheme.

2

Subsection (1) does not make a person who is a director, partner or employee of a firm of actuaries ineligible to act as an actuary of a trust scheme merely because another director, partner or employee of the firm is a trustee of the scheme.

3

Subsection (1) does not make a person who falls within a prescribed class or description ineligible to act as an auditor or actuary of a trust scheme.

4

A person must not act as an auditor or actuary of a trust scheme if he is ineligible under this section to do so.

5

In this section and section 28 references to a trustee of a trust scheme do not include—

a

a trustee, or

b

a trustee of a scheme,

falling within a prescribed class or description.