Part 1 Members and Employees
Pensions Act 2008 (2008 c 30) | Legislation

SCHEDULE 1 The Trustee Corporation

Section 75

Part 1 Members and Employees

Members

1

(1)     Appointments of members of the corporation, and of a member as chair of the corporation, are to be made—

(a)     by the Secretary of State, if they take effect on the commencement of section 75(1) or in the initial period;

(b)     by the corporation, if they take effect after the initial period.

(2)     Subject to sub-paragraph (3), the Secretary of State must consult the chair of the corporation before appointing an ordinary member (that is, a member who is not, on appointment, also appointed as chair).

(3)     A vacancy in the office of chair does not prevent the appointment of an ordinary member.

(4)     The Secretary of State and the corporation must aim to ensure that, from the end of the initial period, there are not fewer than 9 and not more than 15 members at any time.

(5)     It is for the Secretary of State to determine the length of the initial period.

(6)     An order under section 67 may provide for section 242 of the Pensions Act 2004 (c 35) (member-nominated directors of corporate trustees) to apply to the members

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