Source: http://www.legislation.gov.uk/nisi/2005/255/part/VI/crossheading/requirements-for-membernominated-trustees-and-directors
Timestamp: 2020-01-19 15:33:28
Document Index: 327649701

Matched Legal Cases: ['Art. 218', 'Art. 219', 'Art. 219', 'Art. 220', 'art. 2', 'art. 10']

Requirements for member-nominated trustees...
Changes over time for: Cross Heading: Requirements for member-nominated trustees and directors
Requirements for member-nominated trustees and directorsN.I.
Requirement for member-nominated trusteesN.I.
218.—(1) The trustees of an occupational trust scheme must secure—
(2) “Member-nominated trustees” are trustees of an occupational trust scheme who—
(3) The “commencement date”, in relation to a scheme, is—
(a)the date upon which this Article first applies in relation to the scheme, or
(b)in the case of a scheme to which this Article has ceased to apply and then reapplies, the date on which the Article reapplies to it.
(4) The arrangements may provide for a greater number of member-nominated trustees than that required to satisfy the one-third minimum mentioned in paragraph (1)(a) only if the employer has approved the greater number.
(5) The arrangements—
(c)must provide that where the employer so requires, a person who is not a member of the scheme must have the employer's approval to qualify for selection as a member-nominated trustee, and
(d)subject to sub-paragraph (c), may provide that, where the number of nominations received is equal to or less than the number of appointments required, the nominees are deemed to be selected.
(6) The arrangements must provide that the removal of a member-nominated trustee requires the agreement of all the other trustees.
(7) Nothing in the arrangements or in the provisions of the scheme may exclude member-nominated trustees from the exercise of functions exercisable by other trustees by reason only of the fact that they are member-nominated trustees.
(8) This Article does not apply in relation to an occupational trust scheme if—
(9) If, in the case of an occupational trust scheme, the arrangements required by paragraph (1)—
(a)are not in place as required by paragraph (1)(a), or
Article 10 of the 1995 Order (civil penalties) applies to any trustee who has failed to take all reasonable steps to secure compliance.
C1Art. 218 modified (6.4.2006) by Occupational Pension Schemes (Member-nominated Trustees and Directors) Regulations (Northern Ireland) 2006 (S.R. 2006/148), regs. 1(1), 5
Requirement for member-nominated directors of corporate trusteesN.I.
219.—(1) Where a company is a trustee of an occupational trust scheme and every trustee of the scheme is a company, the company must secure—
(2) “Member-nominated directors” are directors of the company in question who—
(3) The “commencement date”, in relation to a company, is—
(a)the date upon which this Article first applies in relation to the company, or
(b)in the case of a company to which this Article has ceased to apply and then reapplies, the date on which the Article reapplies to it.
(4) The arrangements may provide for a greater number of member-nominated directors than that required to satisfy the one-third minimum mentioned in paragraph (1)(a) only if the employer has approved the greater number.
(c)must provide that where the employer so requires, a person who is not a member of the scheme must have the employer's approval to qualify for selection as a member-nominated director, and
(6) The arrangements must provide that the removal of a member-nominated director requires the agreement of all the other directors.
(7) Nothing in the arrangements may exclude member-nominated directors from the exercise of functions exercisable by other directors by reason only of the fact that they are member-nominated directors.
(8) Where the same company is a trustee of two or more occupational trust schemes by reference to each of which this Article applies to the company, then subject to paragraph (9), the preceding provisions of this Article have effect as if—
(9) Where, apart from this paragraph, paragraph (8) would apply in relation to a company, the company may elect that paragraph (8)—
(a)is not to apply as mentioned in that paragraph, or
(10) This Article does not apply in relation to an occupational trust scheme if the scheme is of a prescribed description.
(11) If, in the case of a company which is a trustee of an occupational trust scheme, the arrangements required by paragraph (1)—
Article 10 of the 1995 Order (civil penalties) applies to the company.
C2Art. 219 modified (6.4.2006) by Occupational Pension Schemes (Member-nominated Trustees and Directors) Regulations (Northern Ireland) 2006 (S.R. 2006/148), regs. 1(1), 5
C3Art. 219 modified by S.R. 2006/148, reg. 5 (as amended (6.4.2009) by Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 2009 (S.R. 2009/115), regs. 1(2), 20(3)(b))
Member-nominated trustees and directors: supplementaryN.I.
220.—(1) The Department may, by order, amend Articles 218(1)(a) and (4) and 219(1)(a) and (4) by substituting, in each of those provisions, “one-half” for “one-third”.
(2) Regulations may modify Articles 218 and 219 (including any of the provisions mentioned in paragraph (1)) in their application to prescribed cases.
(3) In Articles 218 and 219—
“company” means a company [F1as defined in section 1(1) of the Companies Act 2006] or a company which may be wound up under Part VI of the Insolvency Order (unregistered companies);
F1Art. 220(3): words in definition of "company" substituted (1.10.2009) by Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 2(1), Sch. 1 para. 252(8) (with art. 10)