Regulation 26 Chairman
The terms of a scheme must provide that–
in the case of a corporate based scheme–
the chairman, if any, of the board of directors of the operator; or
if there is no such chairman or if he is absent, a director of the operator nominated by the other directors of the operator; or
if neither the chairman nor the director nominated under sub-paragraph (ii) above is present within 15 minutes after the time appointed for holding the meeting and willing to act, a director elected by the directors present at the meeting, or, if only one director is present, that director,
presides as chairman at every meeting of participants; and
subject to the provisions of paragraph (2), in the case of a trust based scheme, an officer of or other person appointed by the trustee of the scheme presides as chairman at every meeting of participants.
Paragraph (1)(b) shall not have effect where either–
the officer of or other person appointed by the trustee to preside as chairman is not present within 15 minutes of the time appointed for holding the meeting; or
the business to be transacted at the meeting consists of or includes any proposal that the trustee should retire as trustee of the scheme,
and, in any such case, the terms of the scheme must provide that a participant chosen by the participants present in person or by proxy or through their duly authorised representatives presides as chairman at the meeting.