The Stakeholder Pension Schemes Regulations 2000

Additional requirements as regards instruments establishing a stakeholder pension scheme established under a trustE+W+S

4.—(1) F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2) F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) [F3[F4The scheme instruments of a] scheme established under a trust (“the trust instruments”)] must require that—

(a)unless sub-paragraph (b) applies, at least one trustee and at least one-third of the total number of trustees is neither connected with nor an associate of any person providing services to or otherwise managing the scheme (other than as a trustee);

(b)where a company is trustee of the scheme and there is no trustee of the scheme who is not a company, at least one of the directors of the company and at least one-third of the total number of its directors is neither connected with nor an associate of any person providing services to or otherwise managing the scheme (other than as a trustee).

(4) The trust instruments must not—

(a)enable any of the provisions required by regulation 3 [F5, by this regulation or by regulation 6] to be modified or disapplied;

(b)have a condition that the trustees must obtain the consent of any person before making any decision about investments for the purposes of the scheme; or

(c)except in so far as otherwise required by or under any enactment, preclude the trustees from amending the trust instruments to provide for different investments to be held for the purposes of the scheme.

Textual Amendments