C2C4C3Part 2The Board of the Pension Protection Fund
Pt. 2 applied in part (with modifications) (20.7.2005 for specified purposes, 1.9.2005 for specified purposes, 5.12.2005 for specified purposes) by The Financial Assistance Scheme Regulations 2005 (S.I. 2005/1986), regs. 1(1), 4, Sch. 1
Pt. 2 modified (8.3.2005 for specified purposes, 6.4.2005 in so far as not already in force) by The Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005 (S.I. 2005/277), regs. 1(1), 2-11
C1C2C4Chapter 1The Board
Pt. 2 modified (8.3.2005 for specified purposes, 6.4.2005 in so far as not already in force) by The Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005 (S.I. 2005/277), regs. 1(1), 2-11
Establishment
I1107C1C2C4The Board of the Pension Protection Fund
There shall be a body corporate called the Board of the Pension Protection Fund (in this Act referred to as “the Board”).
108C1C2C4Membership of the Board
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The Board is to consist of the following members—
a
a chairman,
b
the Chief Executive of the Board, and
c
at least five other persons (“ordinary members”).
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The chairman must not be appointed from the staff of the Board or be the chairman of the Regulator.
3
The number of ordinary members must not exceed any maximum number which may be prescribed.
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At least two ordinary members must be appointed from the staff of the Board.
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No member of the Determinations Panel established by the Regulator under section 9, or member of the staff of the Regulator, is eligible for appointment as a member of the Board.
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Any power to appoint ordinary members must be exercised so as to secure that a majority of the members of the Board are non-executive members.
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In this Part—
a
references to executive members of the Board are to—
i
the Chief Executive, and
ii
the ordinary members appointed from the staff of the Board, and
b
references to non-executive members of the Board are to members who are not executive members.
I3I5C1C2I6I7C4I8I9109C1C2C4Further provision about the Board
Schedule 5 makes further provision about the Board, including provision as to—
the appointment of members,
the terms of appointment, tenure and remuneration of members,
the appointment of the Chief Executive and other staff,
the proceedings of the Board,
its accounts, and
the status and liability of the Board, its members and staff.
Pt. 2 modified in part (9.3.2005 for specified purposes, 1.4.2005 for specified purposes, 6.4.2005 in so far as not already in force (except ch. 4)) by The Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations 2005 (S.I. 2005/441), regs. 1, 2-60, 71, 72