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Pensions Act 1995

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Changes over time for: Section 29

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Pensions Act 1995, Section 29 is up to date with all changes known to be in force on or before 25 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

29 Persons disqualified for being trustees.E+W+S

(1)Subject to subsection (5), a person is disqualified for being a trustee of any trust scheme if—

(a)he has been convicted of any offence involving dishonesty or deception,

(b)he has been [F1made] bankrupt or sequestration of his estate has been awarded and (in either case) he has not been discharged [F2or he is the subject of a bankruptcy restrictions order or an interim [F3bankruptcy restrictions] order],

[F4(ba)a moratorium period under a debt relief order (under Part 7A of the Insolvency Act 1986) applies in relation to him or he is the subject of a debt relief restrictions order or an interim debt relief restrictions order (under Schedule 4ZB of the Insolvency Act 1986),]

(c)where the person is a company, if any director of the company is disqualified under this section,

(d)where the person is a Scottish partnership, if any partner is disqualified under this section,

(e)he has made a composition contract or an arrangement with, or granted a trust deed for the behoof of, his creditors and has not been discharged in respect of it, or

(f)he is [F5subject to a disqualification order or disqualification undertaking under the Company Directors Disqualification Act 1986 or the Company Directors Disqualification (Northern Ireland) Order 2002] or to an order made under section 429(2)(b) of the M1Insolvency Act 1986 (failure to pay under county court administration order).

(2)In subsection (1)—

(a)paragraph (a) applies whether the conviction occurred before or after the coming into force of that subsection, but does not apply in relation to any conviction which is a spent conviction for the purposes of the M2Rehabilitation of Offenders Act 1974,

(b)paragraph (b) applies whether the adjudication of bankruptcy or the sequestration [F6or the making of the bankruptcy restrictions order or an interim order] occurred before or after the coming into force of that subsection,

(c)paragraph (e) applies whether the composition contract or arrangement was made, or the trust deed was granted, before or after the coming into force of that subsection, and

(d)paragraph (f) applies in relation to orders made before or after the coming into force of that subsection.

F7(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5)The Authority may, on the application of any person disqualified under this section—

(a)give notice in writing to him waiving his disqualification,

F8(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

either generally or in relation to a particular scheme or particular [F9description] of schemes.

(6)A notice givenF10... at any time by virtue of subsection (5) cannot affect anything done before that time.

Textual Amendments

F10Words in s. 29(6) repealed (6.4.2005) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 13; S.I. 2005/695, art. 2(7), Sch. 1

Modifications etc. (not altering text)

C1Ss. 27-30 applied (with modifications) (11.11.1999 for specified purposes, 1.10.2000 in so far as not already in force) by Welfare Reform and Pensions Act 1999 (c. 30), s. 89(5)(a), Sch. 1 para. 1(1)(2)(b)(ii); S.I. 2000/1047, art. 2(2)(c), Sch. Pt. 3 (as amended (9.12.2005) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 12 para. 76(2)(b); S.I. 2005/3331, art. 2(2), Sch. Pt. 2)

Commencement Information

I1S. 29 in force at 6.4.1997 by S.I. 1997/664, art. 2(3), Sch. Pt. 3

Marginal Citations

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