[272A Liabilities of independent trustee]
Finance Act 2004 (2004 c 12) | Legislation

[272A  Liabilities of independent trustee]

[(1)     This section applies in relation to a person (“P”) who is an independent trustee of a registered pension scheme.

(2)     For the purposes of this section and section 272B an “independent trustee” is a trustee of a pension scheme—

(a)     who is appointed by, or otherwise pursuant to, an order made—

(i)     by the Pensions Regulator under section 7 of the Pensions Act 1995 or Article 7 of the Pensions (Northern Ireland) Order 1995 (appointment of trustees by the Pensions Regulator), or

(ii)     by a court on an application made by the Pensions Regulator, and

(b)     who is not a trustee of the pension scheme at any time before—

(i)     the day on which the trustee's appointment as mentioned in paragraph (a) takes effect, or

(ii)     if the trustee is appointed as mentioned in paragraph (a) on more than one occasion, the day on which the first appointment takes effect.

(3)     In this section “the relevant day” means—

(a)     the day on which

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