SCHEDULES

C1SCHEDULE 5The Board of the Pension Protection Fund

Annotations:
Modifications etc. (not altering text)

Part 1Members of the Board

Tenure of members

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1

Subject to the following provisions, the chairman and any ordinary member—

a

is to hold and vacate office in accordance with the terms and conditions of his appointment, and

b

may resign or be removed from office in accordance with those terms and conditions.

2

A person must cease to be a member of the Board where—

a

in the case of the chairman, he ceases to hold that office or becomes a member of the staff of the Board;

b

in the case of any other non-executive member, he becomes a member of the staff of the Board;

c

in the case of an ordinary member who is an executive member, he ceases to be a member of the staff of the Board.