SCHEDULES

SCHEDULE 19Prohibition orders: consequential amendments

Section 46

Pensions Act 1995 (c. 26)

I11

The Pensions Act 1995 is amended as follows.

I22

In section 6 (removal or suspension of trustees: consequences)—

a

in subsections (1) and (3), after “section 3” insert “ or 3A ”;

b

in subsection (4), after “section 3” insert “ , 3A ”.

I33

In section 7 (appointment of trustees), in subsection (1), after “section 3,” insert “ by section 3A ”.

I44

In section 9 (removal and appointment of trustees: property), after “a trustee” insert “ or a trustee is removed under section 3A ”.

Pensions Act 2004 (c. 35)

I55

The Pensions Act 2004 is amended as follows.

I66

In section 10 (functions exercisable by the Determinations Panel), in subsection (6), after paragraph (e) insert—

ea

section 3A(3) of that Act (application for waiver of prohibition);

I77

In section 66 (register of prohibited trustees), in subsection (1), for the words from “of all” to the end substitute “(“the prohibition register”) of—

a

all persons who are prohibited under section 3 of the Pensions Act 1995, and

b

all persons appearing to the Regulator to be prohibited under section 3A of that Act.

I88

In section 96 (Pensions Regulator's regulatory functions: standard procedure), in subsection (6), after paragraph (i) insert—

ia

the power under section 3A(3) of that Act to give a notice waiving a prohibition;

I99

In section 97 (Pensions Regulator's regulatory functions: special procedure), in subsection (5), after paragraph (j) insert—

ja

the power under section 3A(3) of that Act to give a notice waiving a prohibition;

I1010

1

Schedule 2 (Pensions Regulator's reserved regulatory functions) is amended as follows.

2

After paragraph 5 insert—

5A

The power under section 3A(3) to give a notice waiving a prohibition.

3

In paragraph 9(a), after “orders)” insert “ or by section 3A ”.